The IRS has recently released new guidance regarding the reporting of the prior year Adjusted Gross Income (AGI) on the current year return.
What do I enter if my AGI on my prior year return is a negative amount?
If you had a negative Adjusted Gross Income (AGI) amount on your prior year tax return, you should enter the AGI amount as a negative number in the e-file section of the account.
What do I enter if my AGI is $0 on my prior year return?
If you had zero Adjusted Gross Income (AGI) amount on your prior year return, you need to enter your AGI as $0.
What if I don't know my prior year AGI?
If you do not know your prior year AGI, refer to your prior year federal income tax return for the AGI amount. Your prior year's adjusted gross income (AGI) can be found on line 11 of your 2020 1040 Form. Your prior year AGI for the 2019 1040 Form can be found on line 8b.
What if I don't have access to my prior year return?
If you do not have access to your prior year return, you can order a transcript of the return on the IRS website. This process takes between 15 and 30 minutes to complete. For a list of the items needed to obtain a transcript, please refer to our Knowledgebase Article.
- When filing a prior year return, the AGI is not needed as the return cannot be electronically filed using our website.
- If you use the same account from year to year, your prior year AGI will automatically populate for you.