Adjusted gross income - How To Discuss

Adjusted gross income,

Definition of Adjusted gross income:

1. Tax payers total income from which certain sums such as student loan interest payments (but not allowed or standard deductions) have been subtracted.

2. An individuals or corporations gross income after certain adjustments are made for accounting or other purposes; (in later use) specifically the total annual income of an individual or corporation minus certain deductions and exemptions, especially used for calculating income tax.