How this calculator works
Tax year: 2024, United States. Add the taxable amounts reportable on Form 1040 and Schedule 1, then subtract allowed adjustments. Enter the deductible amount after applying each separate eligibility rule and limit. This tool does not decide IRA, HSA or student-loan eligibility. Capital losses must already respect the reporting limit. Standard and itemized deductions come after AGI. Negative AGI is permitted.
Formula
AGI = total reportable taxable income - allowed adjustments to income. Gross income = AGI + adjustments.
Worked example
$60,000 taxable wages plus $500 taxable interest minus $2,000 of allowed adjustments gives $58,500 AGI. A $5,000 reportable business loss with no other income gives -$5,000 AGI.
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Frequently asked questions
Do I enter all Social Security benefits?
Only the taxable portion calculated under IRS rules. Do not enter the full benefit if only part is taxable.
Where is the standard deduction?
It is below AGI and does not belong among these adjustments.
Can I deduct tuition or moving expenses automatically?
No. Tuition and fees are not a general 2024 adjustment, and moving expenses are restricted. Enter only amounts actually allowed on your 2024 return.