adjusted gross income

American  

noun

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

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Example Sentences

Note: Income is defined as adjusted gross income plus tax-exempt interest for 2024.

From The Wall Street Journal

Eligibility phases out for taxpayers with modified adjusted gross income over $150,000 or $300,000 for joint filers.

From Barron's

Maximum annual deduction is $12,500 or $25,000 for joint filers, and phases out phases out for taxpayers with modified adjusted gross income over $150,000 or $300,000 for joint filers.

From Barron's

This deduction phases out for taxpayers with modified adjusted gross income over $100,000, or $200,000 for joint filers.

From Barron's

Doing the Roth instead would leave that 60-year-old with a higher adjusted gross income, which could disqualify the person from other tax breaks or push them into a higher tax bracket.

From The Wall Street Journal