Adjusted gross income is an amount that takes your total, or gross income, and makes certain adjustments to determine your income for certain tax break qualifications. Image source: The Motley Fool ...

Adjusted gross income is an important number used to determine how much you owe in taxes. It’s a factor in determining your federal tax bracket and taxable income — the portion of your income subject ...

Adjusted gross income is broadly defined as gross income minus certain specifically deductible items allowed by the Code. Deductions from gross income, also referred to as above-the-line deductions, ...

Adjusted gross income (AGI) and modified adjusted gross income (MAGI) are two ways to calculate what your income might be for tax purposes. Both these figures directly influence your tax obligations, ...

Example 1. A married couple files a joint return. During the taxable year, they received $12,000 in Social Security benefits and had a modified adjusted gross income of $35,000 ($28,000 plus $7,000 of ...