---
title: "Tax Report: Key Figures - Total Income, AGI, Deductions, Taxable Income and Total Tax"
description: The top of box of the Tax Report contains the Key Figures derived from the tax return.
---

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# Tax Report: Key Figures - Total Income, AGI, Deductions, Taxable Income and Total Tax

## The top of box of the Tax Report contains the Key Figures derived from the tax return.

![](https://help.holistiplan.com/hs-fs/hubfs/image-png-Jan-27-2026-07-47-02-1271-PM.png?width=670&height=235&name=image-png-Jan-27-2026-07-47-02-1271-PM.png)

We will be using this [sample tax return](https://help.holistiplan.com/holistiplan-academy-sample-return?hsLang=en) in this example.

The left-hand column of the **Key Figures** box displays Total Income, AGI, Deductions, Taxable Income, and Total Tax key figures.

Click [here](https://help.holistiplan.com/tax-report-key-figures-?hsLang=en) to review the article discussing Filing Status, Marginal Rate, Average Rate/Effective Rate, Safe Harbor, and Tax Exempt Percentage of Income (if applicable) key figures.

Click [here](https://help.holistiplan.com/tax-report-key-figures-tax-exempt-interest-dividends-gains/losses-and-credits?hsLang=en)<https://help.holistiplan.com/tax-report-key-figures-tax-exempt-interest-dividends-gains/losses-and-credits?hsLang=en><https://help.holistiplan.com/tax-report-key-figures-tax-exempt-interest-dividends-gains/losses-and-credits?hsLang=en> to review the article discussing Tax Exempt Interest, Qualified/Ordinary Dividends, ST/LT Capital Gains, Carryforward Loss, and Credits claimed key figures.

---

 

- ##### **Total Income (Form 1040, Line 9)**
  
    - **Income from all sources, regardless of type**. In this case, total income amounted to $246,695 between wages, interest, dividends, IRA distributions, capital gains, self-employment income, and rental income.
- ##### **Schedule 1 Adjustments (Form 1040, Line 10)**
  
    - **“Above the line” deductions (aka deductions for AGI)**. Specific to this return, Paula can deduct half of her self-employment tax ($3,738) in Schedule 1 adjustments to income. Other common adjustments on Schedule 1 include the health savings account (HSA) deduction, self-employed health insurance deduction, contributions to SEP, SIMPLE, and qualified plans, deductible IRA contributions, student loan interest deductions, and educator expenses, among others.
- **Adjusted Gross Income (AGI) (Form 1040, Line 11)** 
    - **Total income after the adjustments from Part II of Schedule 1**. In this case, after Schedule 1 adjustments of $3,738, Peter and Paula's AGI was $242,757.
- ##### **Standard or Itemized Deductions (Form 1040, Line 12)**
  
    - Either the standard deduction allowable to all taxpayers or the amount of itemized deductions, whichever is higher.   
          - **The standard deduction is determined by filing status**; in 2025, the standard deduction for married filing jointly (MFJ) taxpayers was $31,500, as seen in the descriptive box to the left of Line 12e on Form 1040. Individuals over age 65 and/or who are blind can add additional deductions to the standard deduction, and elect those additional deductions by checking the boxes on line 12d.
          - **Itemized deductions most commonly include**: 
                  - - Medical expenses above 7.5% of AGI
                            - State and local taxes (income, property, real estate, etc.), capped at $40,000 and subject to MAGI limitations
                            - Mortgage interest
                            - Charitable contributions 
                  - Less commonly, taxpayers can also deduct investment interest expenses (in certain cases), casualty and theft losses, and income in respect of a decedent (resulting from estate tax paid that was attributable to assets in qualified retirement accounts inherited by the taxpayer). 
                  - Itemized deductions are captured on Schedule A.
          - Because Peter and Paula's itemized deductions of $46,500 exceed the standard deduction amount, they took the itemized deduction in 2025.
- ##### **Taxable Income (Form 1040, Line 15)**
  
    - **Adjusted Gross Income less deductions from AGI**. This is the amount that is used to calculate the actual tax bill. 
          - For many taxpayers, deductions will equal the applicable standard deduction or the total itemized deductions. 
          - Taxpayers with self-employment and/or real estate income may also be eligible for the Qualified Business Income (QBI) deduction (Form 1040, Line 13a). Paula was eligible for and took a QBI deduction of $9,832, but the default set of Key Figures does not include this amount. Users can include that deduction, along with other deductions, by [customizing their Key Figures](https://help.holistiplan.com/how-do-i-customize-the-tax-reports-key-figures?hsLang=en). 

- - - After the itemized deductions and the QBI deduction, Peter and Paula’s taxable income was $186,425.
- ##### **Total Tax (Form 1040, Line 24)**
  
    - The amount of tax resulting from the taxes on *ordinary income* (*taxable income* less the qualified income eligible for the preferential long-term capital gains tax rates using the progressive marginal bracket system), *qualified dividends/capital gains income* (using those more preferential tax rates) and additional taxes from Schedule 2 (Self-Employment Tax), less the child tax credit and other non-refundable credits from Schedule 3.

**Note:** The tax return doesn’t list things in this order, but the result is the same.

- - Peter and Paula’s tax on ordinary income (at the marginal rates) and qualified dividends/capital gains income (at the long-term capital gains rates) amounted to **$28,427 (Form 1040, Line 16)**.
    - Peter and Paula's "Other Taxes" **(Form 1040, Line 23) totaled $7,475,** which was entirely attributable to Self-Employment Tax. For some taxpayers, these "Other Taxes" may include Additional Medicare Tax and/or Net Investment Income (NIIT) Tax, among others. Taxpayers with wages and/or modified adjusted gross income over $200,000/$250,000 (single/married filing joint) have an additional 0.9% Medicare tax on wages and may have a 3.8% Net Investment Income Tax that is included as part of the total tax calculation.
    - Peter and Paula had one child over 17 (Lisa) who qualified for a $500 Other Dependent Credit (ODC). They also had a child under 17 (Bart) who qualified for the $2,200 child tax credit. Peter and Paula qualified for the full amount of the credit, but some taxpayers will have this credit amount limited due to their income. These **two credits totaling $2,700** are calculated on Schedule 8812 and reported on **Line 19 of Form 1040**.

- - Peter and Paula had dependent care expenses for Bart, resulting in a $600 credit for child and dependent care expenses (Schedule 3, Line 2). This **$600 credit is reported on Form 1040, Line 20**. This credit is *non-refundable*, meaning it can take a taxpayer's tax obligation down to $0, but no lower than that (which would result in a refund).
    - Peter and Paula's total tax credits (**child tax credit and dependent care expense credit) of $3,300 were reported on Form 1040, Line 21**.

- - The net result was a **total tax of $32,602** as reported on Form 1040, Line 24.

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