Adjusted Gross Income

Research Report

Adjusted Gross Income

From The Encyclopedia of Taxation and Tax Policy
October 1, 1999

Abstract

Adjusted gross income (AGI) is defined by section 62 of the Internal Revenue Code as gross income from all sources not specifically excluded, minus certain deductions. Because AGI is a creature of the tax code, its components have changed over the years with tax law changes. This article outlines the components of AGI, recent changes in its definition, and a comparison with comprehensive income, personal income, and taxable income.

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