"adjusted gross income" meaning in All languages combined

See adjusted gross income on Wiktionary

Noun [English]

Forms: adjusted gross incomes [plural]
Head templates: {{en-noun}} adjusted gross income (plural adjusted gross incomes)
  1. 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. Wikipedia link: adjusted gross income
    Sense id: en-adjusted_gross_income-en-noun-qF75SHFU Categories (other): English entries with incorrect language header, Pages with 1 entry, Pages with entries

Alternative forms

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          "ref": "1977, Ruth G. Schapiro, Tax Shelters After Tax Reform, page 272:",
          "text": "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.",
          "type": "quote"
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          "ref": "1984, Ray M. Sommerfeld, Hershel M. Anderson, Horace R. Brock, An Introduction to Taxation, page 230:",
          "text": "The individual taxpayer must divide allowed deductions between those for adjusted gross income and those from adjusted gross income because the amount of adjusted gross income is important in the determination of some deductions from adjusted gross income.",
          "type": "quote"
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        {
          "ref": "1999, Farm Income Tax Schools Workbook, page 142:",
          "text": "That deduction can be used to reduce her taxable income by $45,000 (30% of her adjusted gross income) each year for the current year and the next three tax years.",
          "type": "quote"
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This page is a part of the kaikki.org machine-readable All languages combined dictionary. This dictionary is based on structured data extracted on 2024-11-06 from the enwiktionary dump dated 2024-10-02 using wiktextract (fbeafe8 and 7f03c9b). The data shown on this site has been post-processed and various details (e.g., extra categories) removed, some information disambiguated, and additional data merged from other sources. See the raw data download page for the unprocessed wiktextract data.

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