Archive for agi

Adjusted Gross Income (AGI)

For United States individual income tax, adjusted gross income (AGI) is total gross income minus specific reductions.[1] Taxable income is adjusted gross income minus allowances for personal exemptions and itemized deductions. For most individual tax purposes, AGI is more relevant than gross income.

Source: Wikipedia

Tax Filing adjusted gross incomeThese deductions reduce AGI.  Amounts deductible against gross income in arriving at adjusted gross income (AGI) are called “above-the-line” deductions.

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