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Q. What is Adjusted Gross Income?

Adjusted Gross Income - Gross income decreased by business and other specified expenses ofindividual taxpayers. Amount of adjusted gross income affects the extent to that medicalexpenses, non-business casualty and theft losses and charitable contributions can be deductible.It is also a significant figure in the basis of many other individual planning issues and a keyline item on the IRS form 1040 and required state forms.

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Financial Management, Finance

Category:- Financial Management
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