Answer:
Calculating your adjusted gross income (AGI) is one of the first steps in determining your taxable income for the year.
The first step in computing your AGI is to determine your income for the year, which includes your traditional salary and wages, in addition to any earnings from self-employment ventures, and any other income reported on 1099 forms, like investment dividends and retirement income.
To arrive at your final AGI, you are allowed to subtract certain amounts from your total income, including classroom expenses for teachers, a deduction for self-employment health insurance premiums, and a deduction for charitable donations, among many others.
Figuring out your AGI may seem like a simple process at first; however, if you don't hire a tax professional, you run the risk of making costly mistakes
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