adjusted gross income

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adjusted gross income

noun adjusted gross incomes

A taxpayer's total gross income minus specific deductions for things like business expenses, health savings account deductions, education expenses, and alimony payments, which is used to calculate taxable income by removing personal exemptions and itemized deductions. The 1976 Act added a preference for individuals for excess itemized deductions, i.e., certain itemized deductions in excess of 60 percent of adjusted gross income.
Similar: AGI

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MLA

"adjusted gross income." Wiktionary, via Micwyn, micwyn.com/word/adjusted%20gross%20income. Accessed 6 Nov. 2026.

APA

adjusted gross income. (n.d.). In Wiktionary, via Micwyn. Retrieved November 6, 2026, from https://micwyn.com/word/adjusted%20gross%20income

Chicago

"adjusted gross income." Wiktionary, via Micwyn. Accessed November 6, 2026. https://micwyn.com/word/adjusted%20gross%20income.

BibTeX

@misc{adjusted_gross_income_2026,
  title = {adjusted gross income},
  howpublished = {Wiktionary, via Micwyn},
  year = {2026},
  url = {https://micwyn.com/word/adjusted%20gross%20income},
  urldate = {2026-11-06}
}