Adjusted Gross Income

Gross income consists of wages and salaries, unemployment compensation, tips and gratuities, interest, dividends, annuities, rents and royalties, up to 85% of Social Security benefits if the recipient's income exceeds a base amount, and certain other types of income. Among the items excluded from gross income, and thus not subject to tax, are public assistance benefits and interest on exempt securities (mostly state and local bonds).

Adjusted gross income is determined by subtracting from gross income: alimony paid, penalties on early withdrawal of savings, payments to an IRA (reduced proportionately based upon adjusted gross income levels if taxpayer is an active participant in an employer maintained retirement plan), payments to a Keogh retirement plan, and self-employed health insurance payments and moving expenses.

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Related content from HighBeam Research on: Adjusted Gross Income

Comparison of BEA estimates of personal income and IRS estimates of adjusted gross income: new estimates for 2003: revised estimates for 2002. (Survey of Current Business)

Comparison of BEA estimates of personal income and IRS estimates of adjusted gross income.(Bureau of Economic Analysis)(Internal Revenue Service) (Survey of Current Business)

Comparison of BEA estimates of personal income and IRS estimates of adjusted gross income: new estimates for 2005: revised estimates for 2004.(Bureau of Economic Analysis)(Internal Revenue Service) (Survey of Current Business)

Table 4. Returns with earned income credit, by size of adjusted gross income, tax year 2005.(Individual Income Tax Returns, 2005) (Statistics of Income. SOI Bulletin)

Table 4. Returns with earned income credit, by size of adjusted gross income, tax year 2006.(Individual Income Tax Returns, 2006) (Statistics of Income. SOI Bulletin)

Table 4.--Comparison of personal income in the National Income and Product Accounts (NIPA) with Adjusted Gross Income (AGI), for specified tax years, 1980-2002.(Selected Historical and Other Data)(Illustration) (Statistics of Income. SOI Bulletin)

Table 1. All returns: sources of income, adjustments, deductions and exemptions, by size of adjusted gross income, tax year 2008.(Individual Income Tax Returns, 2008) (Statistics of Income. SOI Bulletin)

Table 4. Returns with earned income credit, by size of adjusted gross income, tax year 2008.(Individual Income Tax Returns, 2008) (Statistics of Income. SOI Bulletin)

Table 1. All returns: sources of income, adjustments, deductions, and exemptions, by size of adjusted gross income, tax year 2005.(Individual Income Tax Returns, 2005) (Statistics of Income. SOI Bulletin)

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