Series 7: Adjusted Gross Income (AGI)

Taken from our Series 7 - General Securities Representative Exam

Definition of the term Adjusted Gross Income (AGI)...

for tax purposes, income reduced in certain ways but not others. It is typically less than gross income and greater than taxable income. The alternative minimum tax (AMT) is based on AGI. Investment choices that lower AGI, such as 401(k) contributions, also lower AMT.

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