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.

Sign Up For Term of the Day!

Try Our Stock Simulator!

Test your trading skills!

Related Definitions

  1. Accumulated Earnings Tax

    A tax imposed by ...
  2. Income Tax

    A tax that ...
  3. Personal Income

    Total ...
  4. Itemized Deduction

    A deduction from ...
  5. Gross Profit

    A company's ...
  6. Gross Earnings

    1. For ...
  7. Taxable Income

    The amount of ...
  8. Married Filing Jointly

    A filing status ...
  9. Estimated Tax

    Periodic advance ...
  10. Statutory Employee

    A class of ...

Articles Of Interest

  1. Traditional IRA Deductibility Limits For 2011

    Find out where you can take a tax deduction on the contributions you make.
  2. Deducting Your Donations

    Generosity may be its own reward, but some charitable giving also provides personal tax benefits.
  3. How To Cut Your Alternative Minimum Tax

    Save yourself money by lowering the amount of tax you owe.
  4. Tax-Saving Advice For IRA Holders

    Be informed about benefits and deductions that may apply to you and avoid costly mistakes on your return.
  5. Saver's Tax Credit: A Retirement Savings Incentive

    Here's another reason to put money toward your retirement nest egg.
  6. Student Tax Breaks

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

    Know the options you have for your insured property if and when a disaster strikes.
  8. Tax Deductions You May Be Missing

    Knowing the tax deductions you're entitled to can make or break your bank account.
  9. 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.
  10. Income Distribution

    A paper by Ruben Cohen on the dynamics of wages, incomes and earnings.

comments powered by Disqus
Recommended
Loading, please wait...
Trading Center