adjusted gross income

adjusted gross income
adjusted gross income n: an individual's gross income decreased by the amount of deductions allowed esp. for business expenses

Merriam-Webster’s Dictionary of Law. . 1996.

adjusted gross income
n.
Gross income minus expenses and capital loss deduction.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


adjusted gross income
(AGI)
Adjusted gross income (AGI) is gross income from taxable sources (including wages, interest, capital gains, income from retirement accounts, alimony received) minus allowable deductions, such as unreimbursed business expenses, some medical expenses, alimony paid, and deductible retirement plan contributions. You calculate your AGI on the first page of your federal tax return and it serves as the basis for figuring the income tax you owe.
Category: Personal Finance & Retirement → Money & Taxes for Retirees

Nolo’s Plain-English Law Dictionary. . 2009.


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.

Dictionary from West's Encyclopedia of American Law. 2005.


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.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

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