How to Figure Out My AGI With My Last Pay Stub | PocketSense

How to Figure Out My AGI With My Last Pay Stub

How to Calculate a Salary Comp Ratio
Written By
Emily Weller
Emily Weller
Apr 19, 2017
2 minute read

If you want to calculate your adjusted gross income (AGI), but have not yet received a W-2 form from your employer, you can use your final pay stub for the year to determine your AGI for the year. You'll also need documentation of any other income you received during the year, and documentation of any deductions you claim. Although you can figure out your AGI with a pay stub, it's best to wait until you've received your W-2 to file your tax return.

Locate the total year-to-date earnings amount on your final pay stub. The amount will usually be listed under "Earnings." It may include regular pay, bonuses and any other source of income your job provides. Record the amount on a piece of paper.

Look for any before tax deductions on the pay stub. Common pretax deductions include contributions to your 401k, public transportation costs and health insurance. Find the year-to-date total for the pretax deductions.

Subtract the amount of the pretax deductions from your total year-to-date earnings. Record the amount on the paper.

Add any other sources of income, such as taxable interest or alimony you received during the year to the pay stub earnings amount. Other sources include any income you have from working as an independent contractor, income from renting property and unemployment income. Record this amount on the paper.

Total the amount of any deductions you can claim. If you have student loans, you can deduct the interest you paid during the year. If you attended school, you may be able to deduct your tuition. Alimony you paid to a former spouse, expenses you incurred if you are a teacher, and contributions to a traditional IRA are other deductions you can claim. Record the total amount.

Subtract the total amount of your deductions from your total income to figure out your AGI for the year.

Emily Weller

Based in Pennsylvania, Emily Weller has been writing professionally since 2007, when she began writing theater reviews Off-Off Broadway productions. Since then, she has written for TheNest, ModernMom and Rhode Island Home and Design…

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