How to Calculate Aggregate Income | Sapling

How to Calculate Aggregate Income

How to Show 401(k) Losses on My Taxes
Written By
Bill Brown
Bill Brown
Jun 11, 2010
1 minute read
...
Your aggregate income is the total income for a couple filing a joint return.

Your aggregate income is your gross income, and the term generally refers to the combined incomes of a couple filing a joint tax return. It includes income from all sources, including investments. If you have separate business interests for which you file a Schedule C, the net income or net loss from that form should be included as well.

Step 1

Total your gross household wages. The easiest way to do this is to use the Forms W-2 provided by your employers. Alternately, you can refer to recent pay stubs, which should show year-to-date gross wages paid.

Step 2

Figure out the income from investments, such as interest paid on stocks, bonds or bank accounts. At the end of the year, you should receive from each institution with which you hold an account a statement listing what it paid you. Add this figure to the total from Step 1.

Step 3

Calculate your business profits and add this to your running total. If you have a business loss, you can subtract it from your total.

Step 4

Add in any miscellaneous income, such as that paid for work as an independent contractor. If you earned over $600 from a single source, that source must provide a Form 1099 showing the total paid. Add this income to your running total to get your final aggregate income.

Bill Brown

Bill Brown has been a freelance writer for more than 14 years. Focusing on trade journals covering construction and home topics, his work appears in online and print publications. Brown holds a Master of Arts in liberal arts from St.…

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