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Topical Terminology > Adjusted Gross Income



7 Definitions

Adjusted Gross Income

For Adjusted Gross Income we have terms and definitions in 7 topics. The topics are Accounting, Accounting Terms, Charitable Giving, Financial, Fundraising, Real Estate and Tax.



Adjusted Gross Income (Accounting)

Gross income reduced by business and other specified expenses of individual taxpayers. The amount of adjusted gross income affects the extent to which medical expenses, non business casualty and theft losses and charitable contributions may be deductible. It is also an important figure in the basis of many other individual planning issues as well as a key line item on the IRS form 1040 and required state forms.


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Adjusted Gross Income (Accounting Terms)

Gross income reduced by business and other specified expenses of individual taxpayers. The amount of adjusted gross income affects the extent to which medical expenses, non business casualty and theft losses and charitable contributions may be deductible. It is also an important figure in the basis of many other individual planning issues as well as a key line item on the IRS form 1040 and required state forms.


Adjusted Gross Income (Charitable Giving)

The adjusted gross income is the level of income on which federal income tax is assessed, before any deductions and personal exemptions are made. This amount may be used for computing limitations on certain deductions, such as those for charitable gifts.


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Adjusted Gross Income (Financial)

Amount of income that is subject to federal income tax. In addition to any other tax credits, contributions to IRAs and 401(k) plans are subtracted from the total.


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Adjusted Gross Income (Fundraising)

Income from salary and wages, investments, and capital gains.


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Adjusted Gross Income (Real Estate)

Gross income of a building if full rented, less an allowance for vacancies. A person's income after taxes.


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Adjusted Gross Income (Tax)

Gross income after availing any applicable deduction, such as student loan interest etc.


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