| Adjusted Gross Income
(AGI) is a United States tax term for an amount used in the calculation of an individual's income tax liability. It includes all gross income adjusted by certain allowed deductions, and is an important benchmark determining certain other allowed benefits. For example, most limitations on deductions or credits are determined based on either AGI or modified adjusted gross income (MAGI), which is AGI modified by certain amounts specific to the given limitation. Gross income includes wages , interest , income from retirement accounts, capital gains , or alimony received. AGI is the last number on the first page of the Form 1040 , the standard US tax return form. |
