Below we explain what your AGI actually is, how to find it and how everything fits into your system. If you’re looking for more information, CNET has resources on the relationship between stimulus controls and , and what happens if , as , as , as or if . Here’s who maybe all the way.
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What is my AGI and how does it affect my stimulus control?
Your AGI is your adjusted gross income – an amount calculated from your total income to determine how much the government can tax you. Your gross income is the sum of all the money you earn in a year, including wages, dividends, alimony, capital gains, interest income, royalties, rental income and retirement benefits. After you deduct the allowable deductions from your gross income (such as interest on student loans, alimony payments, or retirement contributions), the result is your AGI, or taxable income, which is used to calculate your income tax. Your AGI is reported on IRS tax form 1040.
Because it’s a rough estimate of how much money you’ll bring in after deducting all of your income streams, the IRS used your AGI to calculate how much you could get from the initial stimulus check up to $ 1,200. The second stimulus check will also use your AGI to determine who also gets up to $ 600 apiece.
How can my AGI help me figure out how much money I could get with the second stimulus check?
The amount you can get from onedepends on your AGI, your submission status (single versus joint) and . You can read our story at for some examples of how it could fail for you, depending on your situation.
As long as you meet the other, single taxpayers with a Social Security number and an AGI of less than $ 75,000 will receive the full amount of $ 600. As your AGI increases, the amount you qualify for decreases. If your AGI is $ 87,000 or more, you as a single taxpayer are no longer eligible for the stimulus check (this is less than a cutoff of $ 99,000 for the first check).
If you sign up as a householder (that means you claim at least one dependent child), you will get the full check for $ 600 if your AGI is $ 112,500 or less. And if you are a married couple filing jointly with no children and your AGI is less than $ 150,000, you will receive a payment of $ 1,200. That amount would drop until you hit $ 174,000 (that figure was $ 198,000 on the first check).
How do I find out my AGI if I filed my taxes in 2019?
If you have filed your federal tax return for 2019, pull out your printed documents or PDF. If you have tax filing software such as, you should be able to log in to those accounts to find a copy of your return.
You can find your AGI on line 8b of the 2019 1040 federal tax form.
How do I find out what my AGI is if I did not file my taxes in 2019?
If you didn’t file federal taxes in 2019, you can find your AGI on your 2018 federal tax return. On the 2018 federal tax form 1040, it is on line 7.
What if I can’t find my federal tax return at all?
If you just can’t find your tax return, you can find your AGI one of two ways:
Method 1: Go to the IRS ‘ Get transcript portal and choose Get transcript online. You will need your Social Security Number, date of birth, filing status and mailing address from your last tax return. You also need access to your email; your personal account number from a credit card, mortgage, mortgage, mortgage or car loan; and a cell phone with your name on the bill. Once your identity has been verified, select it Transcript of the tax return and use only the Adjusted gross income line feed. You can view or print your data here.
Method 2: If you do not have Internet access or the necessary identity verification documents, you can use the Get transcript portal and choose Receive a transcript by emailor call 1-800-908-9946 to request a copy of the tax return. It will take about five to 10 days to be delivered to you.
Will my AGI affect my family members?
If your AGI qualifies you for an incentive check and you, you can expect your final incentive payment to include $ 600 for each of your qualified dependent children . There is no limit to the number of dependents you can claim under the age of 17.
For more information, see if youand .