Your total income minus specific deductions such as retirement contributions and half of self-employment tax. Many credits and phase-outs key off AGI, so it is the number that decides what else you qualify for.
AGI sits on line 11 of Form 1040 and controls more than most people realize: the medical expense floor, the student loan interest phase-out, IRA deductibility, the child tax credit phase-out, and several state calculations all key off it. Two people with the same wages can have different AGIs depending on retirement contributions and self-employment deductions.
No. Taxable income is AGI minus the standard or itemized deduction and the qualified business income deduction. AGI comes first and is the number most phase-outs use.
Last reviewed September 10, 2026. Tax rules change; confirm current law before acting.
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