Research Report Adjusted Gross Income
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From The Encyclopedia of Taxation and Tax Policy
Susan C. Nelson
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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.
Research and Evidence Tax and Income Supports Upward Mobility
Expertise Upward Mobility and Inequality Taxes and the Economy
Tags Federal budget and economy Income and wealth distribution