For most people, modified adjusted gross income will be the same as adjusted gross income.
To do the phase-out on Form 8815, Suzy first needs to calculate modified adjusted gross income.
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The rule would define income as adjusted gross income minus a modified measure of charitable contributions.
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Simply by selling her home she finds herself in the top 1% of adjusted gross income.
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You have 20 years of adjusted gross income and twenty years of total tax.
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Work with your tax advisor to determine ways to reduce your adjusted gross income in 2013.
Sometimes the divisor is taxable income and sometimes it is gross or adjusted gross income.
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Note line 37 is adjusted gross income, which will be carried to Line 38.
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Plus a 0.9% Medicare surtax on earned income is assessed over the same adjusted gross income thresholds.
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The amount that you are able to subtract from your adjusted gross income increases with family size.
The charitable contributions are of appreciated property so deduction is limited to 30% of adjusted gross income.
PwC invented this concept by dividing adjusted gross income by federal income taxes shown on the returns.
Adjusted gross income, or AGI, is the number at the bottom of the front page of Form 1040.
In 1958, these Americans accounted for 41.3% of adjusted gross income and paid 29% of all federal taxes.
Often, the difference between gross income and adjusted gross income comes to little more than a rounding error.
By contrast, Americans overall reported less than 10% of their adjusted gross income as coming from capital gains.
The richest 400 reported 1.3% of all adjusted gross income but booked 8.5% of all net capital gains.
This transcript shows basic data including marital status, type of return filed, adjusted gross income and taxable income.
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Thorndike uses the method adopted by Romney to draw comparisons: total taxes owed divided by adjusted gross income.
Maine, on the other hand, has a fairly normal state income tax based on federal adjusted gross income.
The limit is 50% of adjusted gross income for cash contributions and 30% for gifts of appreciated property.
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About 75% of states base personal income taxes on federal adjusted gross income.
Individual taxpayers can only deduct these miscellaneous items to the extent they exceed 2% of their adjusted gross income.
You can deduct the amount of your medical and dental expenses that exceeds 7.5% of your adjusted gross income.
When high income taxpayers hit certain thresholds in adjusted gross income, they lose the ability to take some deductions.
But such losses are not subject to the same floor (2% of adjusted gross income) that limits other miscellaneous deductions.
Qualifying tuition is grouped with other miscellaneous itemized deductions, subject to a disallowance equal to 2% of adjusted gross income.
Replace the charitable contribution deduction with a 12% non-refundable tax credit, subject to a 2% of adjusted gross income floor.
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If you take the two tithes together, it would create an overall tithe of 7.5% of the adjusted gross income.
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That savings comes via above-the-line deductions for adjusted gross income (AGI), below-the-line deductions to AGI and credits claimed against taxes owed.
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