How Do I Get My AGI From Last Year?
Learn how to easily find your Adjusted Gross Income from last year using various methods, including online access and professional assistance.
Understanding your Adjusted Gross Income (AGI) from the previous year is essential for financial activities like filing taxes or applying for loans. The AGI is a key metric for determining taxable income and eligibility for deductions and credits.
Locating Previous Tax Documents
To find your AGI from the previous year, start with your Form 1040, where the AGI is listed on line 11. If you filed electronically, check your computer or email for a digital copy. For paper returns, review your personal records or filing cabinet. Staying organized with these documents aids in tax filing, financial planning, and audits.
If your Form 1040 is missing, consult your tax preparation software or service provider. Platforms like TurboTax or H&R Block often retain access to past returns. Additionally, financial institutions may offer access to tax documents if they were involved in tax-related transactions.
Online Access to Official Transcripts
The IRS’s “Get Transcript Online” service provides a convenient way to access your AGI. To use this tool, create an account on the IRS website by verifying your identity with your Social Security number, date of birth, filing status, email, and a financial account number like a credit card or mortgage account. Once set up, you can access your AGI through the “Tax Return Transcript” section.
This service also offers detailed tax information useful for activities like applying for student loans or mortgages. The platform is regularly updated to ensure accurate and current information.
Requesting Information by Mail
If you prefer traditional methods, the IRS’s “Get Transcript by Mail” service allows you to receive a physical copy of your tax transcript, including AGI, at your address. To start, complete Form 4506-T, providing your name, Social Security number, address, and the tax year needed. Ensure accuracy to avoid delays, and mail the form to the designated IRS address listed in the instructions.
The IRS typically processes requests within 10 business days, though this may vary depending on workload and the time of year. Submit requests well ahead of any deadlines requiring AGI verification.
Requesting Information by Phone
For quicker assistance, you can call the IRS helpline to retrieve your AGI. Have your Social Security number, filing status, and details from your most recent tax return ready for identity verification. IRS phone lines are available Monday through Friday, though wait times may be longer during peak tax season.
Speaking with a representative can also help address other tax questions, providing clarity on tax law changes or issues with past returns.
Authorized Assistance from Tax Professionals
If retrieving your AGI or navigating tax complexities feels overwhelming, a tax professional such as a Certified Public Accountant (CPA) or Enrolled Agent (EA) can assist. These experts have in-depth knowledge of tax laws and can access your tax documents efficiently through specialized software or direct IRS portals.
Tax professionals also offer tailored advice to help you understand how AGI affects your tax filing and financial planning. They can identify deductions and credits that impact your AGI and overall tax liability, offering insights to optimize your tax strategy for both immediate needs and long-term financial goals.