Learn personal and professional finance terms to keep you in the know

Your total gross income for the year minus specific "above-the-line" deductions — like IRA contributions, student loan interest, and self-employment tax. AGI appears on line 11 of Form 1040 and serves as the foundation for calculating your tax liability. It also determines your eligibility for many deductions and credits: generally, the lower your AGI, the broader your access to tax benefits.



