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  2. Adjusted Gross Income (AGI) vs. Modified Adjusted Gross ... - AOL

    AGI, or Adjusted Gross Income, is your total income, including wages, interest, dividends and capital gains, minus specific deductions or adjustments. Your AGI is used to calculate the portion of ...

  3. What Is Adjusted Gross Income & Why Does It Matter? - AOL

    Adjusted Gross Income (AGI) is your gross income minus all the adjustments to income you claim on your tax return. See how to calculate your AGI and MAGI.

  4. Income tax in the United States - Wikipedia

    As of 2010, 68.8% of federal individual tax receipts, including payroll taxes, were paid by the top 20% of taxpayers by income group, which earned 50% of all household income. The top 1%, which took home 19.3%, paid 24.2% whereas the bottom 20% paid 0.4% due to deductions and the earned income tax credit.

  5. Adjusted gross income - Wikipedia

    Adjusted gross income is gross income less deductions from a business or rental activity and 21 other specific items. Several deductions ( e.g. medical expenses and miscellaneous itemized deductions) are limited based on a percentage of AGI. Certain phase outs, including those of lower tax rates and itemized deductions, are based on levels of AGI.

  6. Above-the-line deduction - Wikipedia

    t. e. In the United States tax law, an above-the-line deduction is a deduction that the Internal Revenue Service allows a taxpayer to subtract from his or her gross income in arriving at "adjusted gross income" for the taxable year. These deductions are set forth in Internal Revenue Code Section 62. A taxpayer's gross income minus his or her ...

  7. How Do I Calculate Modified Adjusted Gross Income For ... - AOL

    Simply put, your MAGI is the sum of your adjusted gross income (AGI), your tax-exempt interest income, and specific deductions added back. The IRS uses MAGI to establish whether you qualify for ...

  8. Education in the Philippines - Wikipedia

    The 2021-22 calendar finally returned to the dates mentioned by law with August of 2021 as its opening, bringing the year in line with the university academic calendar. There are two major school breaks: a semestral break from the last week of October to the first week of November including All Saints Day, and a two-week school break at the 3rd ...

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