The adjusted gross income -- AGI -- is a tax term that describes the modified gross income of an individual after making certain allowable deductions. The deductions usually deal with deductible retirement accounts, medical expenses and deductible contributions to certain IRS determined retirement plans. It's possible to figure out your AGI from your pay stub alone. All you need is to locate the applicable deductions and the gross income paid to you during the year for modification using the deduction information.
Calculate your gross income for the year by noting the amount listed under year-to-date pay on the final pay stub for the year. If you have a pay stub other than the final one, then locate the number listed under monthly gross income and multiply this number by 12 for the yearly gross income amount.
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Locate the qualified deductions taken from your pay and listed on your pay stub. Take note of the total deduction amount for the year, or multiply the monthly deduction by 12 to calculate the yearly deduction amount. Qualified deductions include retirement charges, medical insurance, child-care costs and income tax credit payments.
Subtract all of the deductions from the gross income amount to figure out your adjusted gross income from your pay stub alone.
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