Adjusted Gross Income

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Adjusted Gross Income

The term used for Income Tax purposes to describe gross income less certain allowable deductions such as trade and business deductions, moving expenses, Alimony paid, and penalties for premature withdrawals from term savings accounts, in order to determine a person's taxable income.

The rules for computing adjusted gross income for federal income tax may differ from the rules in a state that imposes a state income tax.

References in periodicals archive ?
The new and revised estimates of the AGI gap and of the relative AGI gap by type of income for 1959-90 are shown in tables 4 and 5.
For some clients, it may actually be better to increase AGI at some point before retirement in order to reduce taxable income (and take advantage of the benefits a lower income can provide) later in life.
The asset manager said in a statement that the acquisition is designed to further strengthen AGIs fixed income capabilities.
This session spanned from tractability issues of AI and the role of (cognitively and psychologically inspired) constructions in general intelligence to embodiment issues of AGI.
Qualified Stock" (long-term FMV up to 20% of AGI (The stock
We examined the relationship between AGI and testicular descent in several ways, varying whether each of these variables was entered into the analysis untransformed (e.
In Assaf, the Tax Court heard testimony from tenants who said they chose AGI because of the special services provided.
AGI can be found on the World Wide Web at http://www.
AGI paid off some of the invoices, but a $540,000 balance still remains.
There were 2,380 abortionists in 1992, 2,042 in 1996, and 1,819 in 2000, according to AGI.
The Roth IRA poses an interesting question: If you own a Traditional IRA end your AGI is $100,000 or less, should you convert these funds to a Roth IRA?