Adjusted Gross Income - AGI

What does it Mean? 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... 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.

Terms Related Links

Accumulated Earnings Tax
Form 1098
Gross Earnings
Income Tax
Itemized Deduction
Married Filing Jointly
Personal Income
Taxable Income

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