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.

   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.

   1999, Farm Income Tax Schools Workbook, page 142

   3 more examples

   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.

   1977, Ruth G. Schapiro, Tax Shelters After Tax Reform, page 272

   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.

   1984, Ray M. Sommerfeld, Hershel M. Anderson, Horace R. Brock, An Introduction to Taxation, page 230

   The credit begins to phase out for adjusted gross incomes (AGIs) over $252,150 and completely phases out at AGIs over $292,150. Both the credit and AGI limits are indexed for inflation.

   2025 May 29, “The One, Big, Beautiful Bill”, in United States House Committee on Ways & Means, page 14

   Synonyms: AGI