Stimulus check: What is your AGI and how could it affect another payment?

Stimulus check: What is your AGI and how could it affect another payment?

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How much stimulus money you may be eligible to receive will depend on this line in your taxes.

James Martin/CNET

The House of Representatives and Senate are now both back in session, continuing negotiations over another coronavirus stimulus package and the second stimulus check that could come with it. Both Democratic and Republican leaders have said they want to provide up to $1,200 per eligible American adult, but it remains to be seen if the two sides will be able to reach a compromise before the 2020 election, or if an executive action could trigger movement on another direct payment. 

If a second round of stimulus checks is approved, exactly how much you’d receive would likely depend on your adjusted gross income, or AGI, from your 2019 federal tax filing. (Here’s our stimulus check calculator for an estimate. You can also find out who counts as a dependent on your taxes and what that means for a stimulus payment, and how old a dependent has to be to get a stimulus check of their own.) 

It’s likely that a second payment would follow the basics set in the first stimulus check authorized in March’s CARES Act. Read on to learn exactly what an AGI is, how to find yours and how to use it to measure how much money you could receive, if a second stimulus check goes through.

What is your AGI and what do you need it for?

Your AGI is your adjusted gross income — a measure of income calculated from your total income to determine how much the government can tax. Your gross income is the sum of all the money you earn in a year, including wages, dividends, alimony, capital gains, interest income, royalties, rental income and retirement distributions. AGI factors in allowable deductions from your gross income (like student loan interest, alimony payments or retirement contributions) to figure out how your income tax will be calculated. Your AGI is reported on IRS tax form 1040. 

Since it’s a rough estimate of how much money you’re bringing in after deductions from all your streams of income, the IRS uses your AGI to calculate how much of the maximum of $1,200 stimulus check you can get. 

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How do I find my AGI if I filed taxes in 2019?

If you filed your 2019 federal tax return, pull out your printed records. If you used tax-filing software like TurboTax or H&R Block, you should be able to log into those accounts to find a copy of your return. 

You’ll find your AGI on line 8b of the 2019 1040 federal tax form. 

How do I find my AGI if I did not file taxes in 2019? 

If you didn’t file federal taxes in 2019, you can find your AGI on your 2018 federal tax return. On the 2018 1040 federal tax form, you’ll find your AGI on line 7. 


An IRS 1040 Individual Income Tax form for the 2018 tax year. You’ll find your AGI on line 7.

Daniel Acker/Bloomberg/Getty Images

How do I find my AGI if I don’t have a copy of my tax return?

If you just can’t find your tax return, you can find it in two ways:

Method 1: Go to the IRS’s Get Transcript portal, and choose Get Transcript Online. You’ll need your social security number, date of birth, filing status and mailing address from your latest tax return. You’ll also need access to your email, your personal account number from a credit card, mortgage, home equity loan, home equity line of credit or car loan, and a mobile phone with your name on the account. Once your identity is verified, select the Tax Return Transcript and use only the “Adjusted Gross Income” line entry. You’ll be able to view or print your information here. 

Method 2: If you don’t have internet access or the necessary identity verification documents, you can use the Get Transcript portal and choose Get Transcript by Mail, or call 1-800-908-9946 to request a Tax Return Transcript. It’ll take about five to 10 days to be delivered to you. 

How can I use my AGI to figure out how much stimulus money I could get in a second check? 

Should another economic relief package pass, how much money you’d get from a second stimulus check depends on your AGI, your filing status (single versus joint) and how many dependents you have. You can check out our story on how to calculate how much money you’d get from a second stimulus check for some examples on how it could break down for you depending on your situation. 

If another relief package followed the same guidelines for stimulus checks as the March CARES Act did, single taxpayers with a social security number and an AGI under $75,000 would receive the full amount of $1,200. As your AGI goes up, the amount you’d be eligible to get decreases. If your AGI is $99,000 or above, you wouldn’t be eligible for the stimulus check. But again, this assumes that the eligibility rules stay they same.

If you’re filing as head of a household, you’d get the full $1,200 check if your AGI is $112,500 or less. The amount would decrease until you reach $146,500, at which point you would not be eligible. 

If you’re a married couple filing jointly without children and your AGI is below $150,000, you’d get a $2,400 payment. That amount would decrease until you hit $198,000, at which point you would not eligible for a check. 

The HEALS Act and the Heroes Act differ when it comes to child dependents. If the HEALS Act passes, you can expect to get $500 per dependent. If the Heroes Act passes, you can expect to get $1,200 per dependent, with a maximum of three. 

For more, find out if you’re qualified for a second stimulus check and when you can expect a second stimulus check. If you still haven’t gotten a first stimulus check, you can track the status of your stimulus check, learn how to report your missing check to the IRS and find possible reasons why your stimulus check still hasn’t arrived

Katie Conner contributed to this story.

Source: Cnet News
Keyword: Stimulus check: What is your AGI and how could it affect another payment?

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