Adjusted Gross Income (AGI} is a tax term which determines how much of your income is taxable. AGI is calculated by adding up all sources of income (business profits, wages and salaries, alimony, etc.) and subtracting certain tax credits and adjustments. Some common adjustments are for student loan interest, health savings accounts, IRA payments, and one-half of self-employment tax.
Adjusted Gross Income (AGI)
By Jean Murray, About.com Guide
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