adjusted gross income

Meaning

Total income minus certain adjustments, such as student loan interest or retirement contributions, serving as the baseline for calculating federal income tax.

Examples

• Your adjusted gross income determines whether you qualify for certain tax credits.
• The tax software automatically calculated my adjusted gross income based on the deductions I entered.

Pronunciation: əˈdʒʌstɪd ɡroʊs ˈɪnkʌm

Synonyms of adjusted gross income

Words with a similar meaning to adjusted gross income:

• taxable income