Health insurance premiums for self-employed workers; Retirement plan contributions for self-employed workers; Alimony paid for divorces finalized before 2019 (included in the recipient's gross income); Early withdrawal penalties for savings account by financial institutions; School tuition, fees, and stu...
Contributions to ahealth savings account, or HSA. Educator expenses, up to the annual maximum. Student loan interest, up to the maximum allowed. Half of the self-employment tax you paid. Self-employed health insurance premiums. Alimony payments. Moving ex...
Health insurance premiums for self-employed individuals Student loan interest Alimony payments (for divorces finalized before 2019) Health Savings Account (HSA) contributions. A single individual with a gross income of $110,000 in 2025 would be in the 24% tax bracket on the portion of...
Adjusted gross income or AGI is your total income minus deductions you're eligible to take or "adjustments to income," as the IRS calls them. Gross income includes wages, dividends, capital gains, retirement income, and rents. Deductions might include self-employed health insurance premiums, stud...
mortgage insurance premiums charitable contributions medical deduction allowance How do you calculate MAGI? To calculate your modified adjusted gross income, take your AGI and "add-back" certain deductions. Many of these deductions can be rare, so it's possible your AGI and MAGI...
Adjusted gross income (AGI) can directly impact the deductions and credits you are eligible for, which can wind up reducing the amount of taxable income you report on your tax return.
Compare TurboTax Tax Products All online tax preparation software TurboTax online guarantees IRS Forms Self-employed tax center Tax Refund Advance Crypto Taxes Credit Karma Money TurboTax Blog TurboTax Canada Products for previous tax years $0 Mobile App Offer ...