meaning of Adjusted Gross Income

Adjusted Gross Income meaning in Finance Dictionary

in america, someone's earnings which federal income tax is computed. This is certainly revenues less modifications such as for example Individual Retirement Account, Simplified Employee Pension Arrange, Keogh Arrange and alimony payments but before itemised deductions such as for example state and regional income taxes, interest costs and medical costs.

Adjusted Gross Income meaning in Law Dictionary

n individuals income before standard deductions have now been subtracted, but after student loan interest payments happen subtracted.

Adjusted Gross Income meaning in Business Dictionary

taxation payer's total income that certain amounts such student loan interest repayments (yet not permitted or standard deductions) happen subtracted.