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AGI is gross income minus "above-the-line" adjustments such as deductible retirement and HSA contributions. It is the basis for many calculations and determines eligibility for deductions and credits. Many tax thresholds key off AGI or its close cousin, MAGI.
Lowering AGI through pre-tax retirement contributions can unlock other tax breaks.
Educational disclaimer: All content on WealthSerene.com is for educational purposes only and does not constitute investment advice. Projections and calculations are illustrative — actual results will vary based on market conditions, your specific situation, and many factors outside this tool’s scope. Always consult a qualified financial professional for advice specific to your situation. View full disclosures →