Adjusted Gross Income
Income tax in the United States, Itemized deduction, Gross income
978-613-7-17445-6
613717445X
72
2011-09-29
29.00 €
eng
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Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. For United States individual income tax, taxable income is adjusted gross income less allowances for personal exemptions and itemized deductions. Adjusted gross income is total gross income minus specific items laid out in the tax code. For most individual tax purposes, AGI is more relevant than gross income. Gross income is sales price of goods or property, less cost of the property sold, plus other income. It includes wages, interest, dividends, business income, rental income, and all other types of income. Adjusted gross income is gross income less deductions from a business or rental activity and 21 other specific items.
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