Investopedia

Adjusted Gross Income - AGI

Dictionary Says

Definition of 'Adjusted Gross Income - AGI'

A measure of income used to determine how much of your income is taxable. Adjusted gross income (AGI) is calculated as your gross income from taxable sources minus allowable deductions, such as unreimbursed business expenses, medical expenses, alimony and deductible retirement plan contributions.

Also referred to as "net income."
Investopedia Says

Investopedia explains 'Adjusted Gross Income - AGI'

Your AGI is figured on Page 1 of your federal tax return, and it is used to establish eligibility for financial benefits such as IRA contribution deduction limits and social security benefits.

Articles Of Interest

  1. Saver's Tax Credit: A Retirement Savings Incentive

    Here's another reason to put money toward your retirement nest egg.
  2. Tax-Saving Advice For IRA Holders

    Be informed about benefits and deductions that may apply to you and avoid costly mistakes on your return.
  3. Deducting Your Donations

    Generosity may be its own reward, but some charitable giving also provides personal tax benefits.
  4. Tax Deductions You May Be Missing

    Knowing the tax deductions you're entitled to can make or break your bank account.
  5. How To Cut Your Alternative Minimum Tax

    Save yourself money by lowering the amount of tax you owe.
  6. Traditional IRA Deductibility Limits For 2011

    Find out where you can take a tax deduction on the contributions you make.
  7. Keep Working Or Stay At Home With The Kids?

    Choosing to stay at home with the kids is a choice that has both positive and negative financial consequences.
  8. Student Tax Breaks

    Education bills may not be as stressful as you think - these student tax breaks can help!
  9. Cut Taxes By Reporting Property Damage

    Know the options you have for your insured property if and when a disaster strikes.
  10. Earnings Guidance: Can It Accurately Predict The Future?

    Explore the controversies surrounding companies commenting on their forward-looking expectations.
comments powered by Disqus
Marketplace
Hot Definitions
  1. Validation Period

    The amount of time necessary for the premium on an insurance policy to cover the commissions, the cost of investigation, medical exams and other expenses associated with the issuance of the policy.
  2. Winner's Curse

    Because of incomplete information, emotions or any other number of factors regarding the item being auctioned, bidders can have a difficult time determining the item's intrinsic value. As a result, the largest overestimation of an item's value ends up winning the auction.
  3. Glocalization

    A combination of the words "globalization" and "localization" used to describe a product or service that is developed and distributed globally, but is also fashioned to accommodate the user or consumer in a local market.
  4. Disaster Loss

    A special type of tax-deductible loss, similar to a casualty loss, where a loss has been incurred by taxpayers who reside in an area that has been designated as a federal disaster area by the President.
  5. Fool In The Shower

    The notion that changes or policies designed to alter the course of the economy should be done slowly, rather than all at once.
  6. Pattern Day Trader

    An SEC designation for traders who trade the same security four or more times per day (buys and sells) over a five-day period, and for whom same-day trades make up at least 6% of their activity for that period.
Trading Center