Adjusted Gross Income - Law Dictionary Search Results
modified adjusted gross income
Matched in: Term modified adjusted gross income
adjusted gross income
Matched in: Term adjusted gross income
AGI
AGI adjusted gross income
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deduction
Code) itemized deduction : a deduction for a specifically recorded item that is allowed to be taken from adjusted gross income if the total of such deductions exceeds the standard deduction marital deduction 1 : a deduction allowed under … deduction : a deduction of an amount set by tax law that is allowed to be taken from adjusted gross income unless the taxpayer elects to itemize deductions 2 in the civil law of Louisiana : an item of
exemption
or is exempted: as a : an amount of income exempted from taxation that may be deducted from adjusted gross income under the tax laws see also Internal Revenue Code in the Important Laws section compare deduction, exclusion, tax
interest
a rate [awarded the defendant legal interest] compare usury qualified residence interest : interest that is deductible from adjusted gross income under federal tax law when it is paid on debt that is secured by one's residence and that
loss
the insurer under the terms of the policy NOTE: As a general rule, economic losses are deductible from adjusted gross income under section 165 of the Internal Revenue Code. There are, however, numerous exceptions and limitations. actual loss :
IRA
until retirement or early withdrawal NOTE: Deposits to an IRA may not be completely or partially deductible from adjusted gross income if one's income exceeds a set level.
above
higher or superior in rank or authority [the court ] above the line : in calculations that yield adjusted gross income or profit adj : written or discussed higher on the same page or on a preceding page [the
itemized deductions
itemized deductions Expenditures that the tax code deems appropriate for reducing adjusted gross income.
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