| Figuring
Out Taxable Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| n | Gross
income |
||||||||||||
| n | Wages
and salaries, alimony, interest, capital |
||||||||||||
| gains,
dividends, pensions, business income, |
|||||||||||||
| rentals, etc. |
|||||||||||||
| n | Adjusted
income (AGI) = Gross income plus |
||||||||||||
| or
minus certain adjustments |
|||||||||||||
| n | Examples
of possible exclusions: IRA (individual |
||||||||||||
| retirement
savings arrangements) contributions, |
|||||||||||||
| moving
expenses, alimony paid |
|||||||||||||