2006-08-13 13:05:29 · 4 answers · asked by peppizola 3 in Business & Finance ➔ Taxes ➔ United States
Adjusted Gross Income- Used to determine how much of your income is taxable. AGI consists of gross income from taxable sources minus your maximum allowable adjustments.
2006-08-13 13:09:56 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Adjusted gross income is used in federal income tax calculation. It is total income less certain adjustments. This amount in turn is used to determine limitations on certain deductions and credits. For more information see:
http://www.irs.gov/
2006-08-13 13:27:40 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
The bottom number on page 1 of IRS tax Form 1040.
2006-08-13 15:41:08 · answer #3 · answered by rockEsquirrel 5 · 0⤊ 0⤋
Your paycheck (before they take all of the taxes out) + interest and dividends from stocks, bonds, banking accounts + business profits - business losses - IRA / 401(k) / 403(b) money. For 80% of filers, this covers the gist of it.
2006-08-13 16:26:08 · answer #4 · answered by Anonymous · 0⤊ 0⤋