Adding additional incomes from other sources.Steps To Calculate Your AGI – Adjusted Gross Income Using W-2 Form It consists of essential information to be reported on your federal income tax returns.
In addition to the above, AGI also determines the contribution amounts to IRAs and other qualified savings plans.Įmployees receive the W-2 Forms from his/her employers at the end of every year. AGI – Adjusted Gross Income is an individual’s total gross income after the deduction of certain allowable expenses. AGI helps you to determine your federal/state income taxes and also your eligibility for certain tax credits.