Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

Can my Adjusted gross income and my gross income be the same thing?

trying to fill out my fafsa and on my tax return they are the same thing...am I looking in the wrong spot? thanks

Update:

I used a 1040

6 Answers

Relevance
  • 1 decade ago
    Favorite Answer

    edit edit edit

    forgot to mention, sometimes you will have the exact same number there.

    edit edit edit edit

    The gross income is line 22

    on the 1040 the adjusted gross is line 37

    no, they are not the same thing.

    gross income is the actual income you earned from wages, tips ect ect.

    the adjusted gross income is your actual income (gross) plus the adjustments.

    if you can tell me what form you used last year ~ 1040 ez, 1040 or 1040A or perhaps another form, i can tell you exactly what line number is what.

    adjustments are another subject but to answer your question again, they are not the same thing.

  • 1 decade ago

    Yes, if you don't have a lot of adjustments on your tax return for things like bank interest and dividends, or social security payments.

    Your fafsa should tell you the lines to enter (such as gross income is 1040EZ line 3, adjusted gross income is 1040EZ line 6). Just follow those instructions and you will be fine.

  • Ryan M
    Lv 7
    1 decade ago

    no they are not the same. AGI is gross income minus deductions. Everyone has AT LEAST the standard deduction to take away from gross income

  • 1 decade ago

    Not sure what line you look at but no they are not the same number. You have personal deductions and deductions for children that will affect your AGI.

  • How do you think about the answers? You can sign in to vote the answer.
  • Judy
    Lv 7
    1 decade ago

    Sure, it's probably the same for most people. It's only different if you have an entry in the "adjustments" section.

  • 1 decade ago

    yes .... if you have no adjustments

Still have questions? Get your answers by asking now.