adjusted gross income

Definition of "adjusted gross income"
  1. The total income a person earns reduced by applicable deductions, primarily business-related expenses
How to use "adjusted gross income" in a sentence
  1. The tax preparer calculated the businessman's adjusted gross income after deducting his business expenses.
  2. After including all eligible business deductions, the adjusted gross income was surprisingly lower than expected.
  3. The adjusted gross income is used to determine how much income tax an individual owes.
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