adjusted gross income

noun

1. (in U.S. income-tax returns) the total of an individual's wages, salaries, interest, dividends, etc., minus allowable deductions. : AGI

Example Sentences

Furthermore, medical expenses must exceed 7.5% of your adjusted gross income to be deductible, notes Mark Luscombe, principal analyst for Wolters Kluwer Tax & Accounting.

From Los Angeles Times

The availability of the credit will depend on the vehicle’s cost, final assembly location, battery component and/or critical minerals sourcing, and the buyer’s modified adjusted gross income.

From Seattle Times

Free File is available to only people whose adjusted gross income — that is, income minus certain deductions, including retirement savings contributions and student loan interest payments — is under the cap set by the IRS, which rises annually with inflation.

From Los Angeles Times

Eight online tax-preparation companies participate in Free File, providing free help to taxpayers whose adjusted gross income was $79,000 or less in 2023.

From Los Angeles Times

The IRS already offers its Free File service to taxpayers whose adjusted gross income — that is, income minus certain deductions, including retirement savings contributions and student loan interest payments — was $79,000 or less in 2023.

From Los Angeles Times