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Finance Dictionary and Glossary of Investment Terms
Adjusted Gross Income
Definition 1.
AGI. The amount used in the calculation of an individual's income tax liability; one's income after certain adjustments are made, but before standardized and itemized deductions and personal exemptions are made.
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Definition 2.
An individual’s gross income after a limited group of expenses is subtracted. These expenses range from business expenses, capital loss deductions of up to $3,000, expenses from rent or royalty income, individual retirement account contributions, alimony and other expenses.
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