- income on which an individual or couple computes federal income tax AGI is determined by subtracting from gross income any unreimbursed business expenses and other allowable adjustments for example
- individual retirement accounts, sep and keogh payments and alimony payments
- other adjustments include income for a picture of Interest penalty because of premature withdrawal from a certificate of deposit Capital loss deduction up to $3,000 rent and royalty expenses 50% of self employment tax liability health insurance deductions for the self-employed and net operating losses
- other adjustments made include student loan interest jury duty pay turned over to your employer moving expenses health savings account contribution tuition and fees deductions and hybrid vehicle deductions AGI is the individuals or couples income before itemized deductions such as medical expenses state and local income taxes and real estate taxes
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