adjusted gross income

adjusted gross income definition - finance
The amount used in the calculation of an individual or coupleÂ’s income tax liability after deductions, such as IRA contributions, half of self-employment taxes, and health insurance and alimony payments, have been subtracted. AGI is income before the standard or itemized deductions or personal exemptions are subtracted.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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