How much was my AGI? Taxable income after deductions was $35k this year ($56k earned before deductions)

Thank you for clarifying! So then is it fair to say that the standard/itemized deduction is about $21k? Or is that not how it works? Sorry I'm so confused about this.

No, that's not quite right. The difference between your gross income ($56k) and your AGI isn't just deductions - it includes your "above-the-line" adjustments like your SEP-IRA contributions and student loan interest. Then the difference between your AGI and taxable income ($35k) would be your standard or itemized deduction. For example, if you had $6k in adjustments, your AGI would be $50k ($56k - $6k). Then if you took the standard deduction of $15k, your taxable income would be $35k ($50k - $15k). These are just example numbers - you really should check your actual tax return for the precise figures.

Does it work with other tax documents too? Like I have a bunch of 1098s and investment statements and I'm never sure if I'm entering everything correctly.

I'm kinda skeptical about these AI tools with taxes. How do you know it's calculating everything correctly? Do they guarantee accuracy like TurboTax does?

It works with pretty much all standard tax documents - W-2s, 1099s, 1098s, investment statements, and even previous tax returns. I uploaded everything and it categorized it all automatically. For your question about accuracy, it doesn't actually file your taxes - it's more like a document analyzer that explains what everything means and helps you understand where all your numbers should go. They have tax professionals who've verified the explanations, but you still have the final say on how you file. It's more about understanding than replacing your actual tax software.

Wait how does this actually work? Do they have some secret phone number to the IRS or something? I've been trying to reach someone at the IRS for weeks!

This sounds like a scam. No way they can magically get through to the IRS when millions of people can't. They probably just take your money and give you the runaround.

They use some kind of callback technology that essentially waits on hold for you in the IRS queue. They don't have a special number - they call the same IRS numbers we all do, but their system navigates the phone tree and waits on hold so you don't have to. When an actual IRS agent picks up, they call you and connect you directly. No, it's definitely not a scam. They don't even ask for any of your tax info - they just connect you to the IRS agent directly, and then you provide your details to the actual IRS person. I was suspicious too honestly, but I was desperate after trying for days to get through on my own.

Thanks so much for breaking this down! This makes way more sense now. I found my tax return and my AGI was actually $48,500, so my adjustments were about $7,500 and then the standard deduction took me down to the $35k taxable income. Do you know what the income limits are for those education credits? I'm hoping to qualify next year.

For 2025 (taxes you'll file in 2026), the American Opportunity Credit begins to phase out at $80,000 MAGI for single filers and $160,000 for married filing jointly. It's completely phased out at $90,000/$180,000. The Lifetime Learning Credit has the same phaseout ranges. With your AGI around $48,500, you should be well within the limits to claim either credit as long as your income doesn't increase dramatically. The American Opportunity Credit is worth up to $2,500 but can only be claimed for the first 4 years of undergraduate education. The Lifetime Learning Credit is worth up to $2,000 and can be used for any level of education, including graduate courses or professional development.

Mortgage lenders will almost always look at your gross income (before any deductions) and sometimes specifically at your AGI, not your taxable income. They want to know your actual earnings capacity, not the number after all your deductions. They'll typically ask for 2 years of tax returns and recent pay stubs to verify your income.