AGI Calculator
body {
font-family: 'Segoe UI', Tahoma, Geneva, Verdana, sans-serif;
background-color: #f8f9fa;
color: #333;
line-height: 1.6;
margin: 0;
padding: 20px;
}
.calculator-container {
max-width: 700px;
margin: 40px auto;
background-color: #ffffff;
padding: 30px;
border-radius: 8px;
box-shadow: 0 4px 15px rgba(0, 0, 0, 0.1);
}
h1 {
color: #004a99;
text-align: center;
margin-bottom: 30px;
}
.input-section, .result-section {
margin-bottom: 30px;
padding: 20px;
border: 1px solid #e0e0e0;
border-radius: 5px;
background-color: #fdfdfd;
}
.input-group {
margin-bottom: 20px;
display: flex;
flex-wrap: wrap;
align-items: center;
gap: 15px;
}
.input-group label {
flex: 1 1 150px; /* Flexible width for labels */
font-weight: 600;
color: #004a99;
}
.input-group input[type="number"],
.input-group input[type="text"] {
flex: 2 1 200px; /* Flexible width for inputs */
padding: 10px;
border: 1px solid #cccccc;
border-radius: 4px;
box-sizing: border-box; /* Include padding and border in the element's total width and height */
font-size: 1rem;
}
.input-group input[type="number"]:focus,
.input-group input[type="text"]:focus {
border-color: #004a99;
outline: none;
box-shadow: 0 0 0 2px rgba(0, 74, 153, 0.2);
}
button {
display: block;
width: 100%;
padding: 12px 20px;
background-color: #004a99;
color: white;
border: none;
border-radius: 4px;
font-size: 1.1rem;
cursor: pointer;
transition: background-color 0.3s ease;
margin-top: 10px;
}
button:hover {
background-color: #003366;
}
#result {
font-size: 1.8rem;
font-weight: bold;
color: #28a745;
text-align: center;
padding: 15px;
background-color: #e9f7ee;
border: 1px solid #28a745;
border-radius: 5px;
}
.article-section {
margin-top: 40px;
padding: 25px;
background-color: #ffffff;
border-radius: 8px;
box-shadow: 0 4px 15px rgba(0, 0, 0, 0.1);
}
.article-section h2 {
color: #004a99;
margin-bottom: 20px;
text-align: center;
}
.article-section p, .article-section ul {
margin-bottom: 15px;
}
.article-section ul {
padding-left: 20px;
}
.article-section li {
margin-bottom: 8px;
}
@media (max-width: 600px) {
.input-group {
flex-direction: column;
align-items: stretch;
}
.input-group label,
.input-group input[type="number"],
.input-group input[type="text"] {
flex-basis: auto; /* Reset flex-basis for stacking */
width: 100%;
}
.calculator-container {
padding: 20px;
}
}
Adjusted Gross Income (AGI) Calculator
Understanding Adjusted Gross Income (AGI)
Adjusted Gross Income (AGI) is a crucial figure in personal finance and taxation. It represents your gross income minus specific "above-the-line" deductions. AGI is important because many tax benefits, credits, and deductions are calculated as a percentage of your AGI, meaning a lower AGI can lead to significant tax savings.
What is Gross Income?
Gross income includes all income you receive from all sources, such as wages, salaries, tips, interest, dividends, capital gains, business income, retirement distributions, and rental income.
What are "Above-the-Line" Deductions?
"Above-the-line" deductions are specific expenses that you can subtract directly from your gross income to arrive at your AGI. These are generally business-related expenses or certain personal adjustments allowed by the IRS. Common examples include:
- Deductible part of self-employment tax
- Health Savings Account (HSA) deductions
- Student loan interest deduction
- IRA contributions (traditional)
- Alimony paid (for divorce/separation agreements executed before Jan 1, 2019)
- Educator expenses
- Certain business expenses for reservists, performing artists, and fee-basis government officials
It's important to note that "below-the-line" deductions (like itemized deductions for mortgage interest, state and local taxes, or charitable contributions) are subtracted *after* AGI is calculated and do not affect your AGI itself.
The AGI Formula
The calculation is straightforward:
AGI = Total Gross Income – Total Above-the-Line Deductions
Why is AGI Important?
Your AGI serves as a benchmark for calculating eligibility and limitations for various tax credits and deductions. For example:
- Medical expense deductions are limited to the amount exceeding a certain percentage of your AGI.
- Casualty and theft losses (for federally declared disasters) are deductible only above a certain threshold relative to your AGI.
- Eligibility for certain retirement savings contributions may be phased out based on AGI.
- Tax credits like the Lifetime Learning Credit can have AGI phase-out limits.
By understanding and calculating your AGI, you can better estimate your tax liability and identify potential strategies for tax reduction.
Disclaimer
This calculator provides an estimation based on the inputs provided. It is intended for educational purposes only and does not constitute financial or tax advice. Tax laws are complex and subject to change. Consult with a qualified tax professional or financial advisor for personalized advice.
function calculateAGI() {
var totalIncomeInput = document.getElementById("totalIncome");
var aboveLineDeductionsInput = document.getElementById("aboveLineDeductions");
var resultDiv = document.getElementById("result");
var totalIncome = parseFloat(totalIncomeInput.value);
var aboveLineDeductions = parseFloat(aboveLineDeductionsInput.value);
// Input validation
if (isNaN(totalIncome) || isNaN(aboveLineDeductions)) {
resultDiv.textContent = "Please enter valid numbers.";
resultDiv.style.color = "#dc3545"; /* Red for error */
return;
}
if (totalIncome < 0 || aboveLineDeductions totalIncome) {
resultDiv.textContent = "Deductions cannot exceed total income.";
resultDiv.style.color = "#dc3545"; /* Red for error */
return;
}
var agi = totalIncome – aboveLineDeductions;
resultDiv.textContent = "$" + agi.toLocaleString(undefined, { minimumFractionDigits: 2, maximumFractionDigits: 2 });
resultDiv.style.color = "#28a745"; /* Green for success */
}