Introduction
Adjusted gross income (AGI) is an individual’s total gross income minus certain deductions. It is an important figure when it comes to filing taxes, as it is used to calculate the amount of tax that must be paid. Knowing one’s AGI from the previous year can be useful in a variety of situations. In this article, we look at some of the ways to determine last year’s AGI.
Checking Your Tax Return
The simplest way to find out your AGI is to check your tax return from last year. If you have access to a copy of the return, you can easily locate your AGI. It is usually found near the top of the form, listed as “total income.”
Using IRS Free File
The Internal Revenue Service (IRS) offers a free online filing option called IRS Free File. This service allows taxpayers to file their federal income tax returns electronically for free. It also allows users to access a copy of their previous year’s tax return. To do so, the user must create an account with the IRS and then log into their account. Once logged in, they can access a copy of their return and locate their AGI.
Requesting a Copy of Your Tax Return Transcript
If you don’t have access to a copy of your tax return, you can request a copy of your tax return transcript from the IRS. A transcript is a summary of the information filed on your return and includes the AGI. You can request a copy of the transcript by mailing a completed Form 4506-T to the IRS or by calling the IRS at 1-800-908-9946.
Contacting Your Employer
If you are unable to access a copy of your tax return or your transcript, you can contact your employer and ask for a copy of your W-2 form. Your W-2 form is a statement of your earnings and taxes withheld from your paycheck. On the form, you can find your AGI listed as “total wages.”
Using Online Tax Software
Using online tax software is another option for finding your AGI from last year. There are many different types of tax software available, including TurboTax, H&R Block, TaxAct, and many others. Most of these services allow you to access a copy of your return from the previous year. You can then locate your AGI on the return.
Contacting a Tax Professional
You may also consider contacting a tax professional if you need help finding your AGI from last year. A tax professional can review your previous year’s tax return and provide you with a copy of the return. They can also help answer any questions you may have about the return or your AGI.
Requesting an IRS Tax Return Verification
In some cases, you may need to verify your AGI with the IRS. To do so, you can submit a request for an IRS Tax Return Verification. This request can be submitted by mail or by phone. The IRS will then send you a verification letter with the information you requested.
Conclusion
Finding your AGI from last year can be a simple process if you know where to look. The most straightforward way to find your AGI is to check your tax return. If you don’t have access to the return, you can use IRS Free File, request a copy of your tax return transcript, contact your employer for a copy of your W-2 form, use online tax software, or contact a tax professional. In some cases, you may need to request an IRS Tax Return Verification. With these steps in mind, you should be able to quickly and easily find your AGI from last year.
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