Definition of Adjusted Gross Income

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Related Services - The following directories of companies and services offer a wide variety of financial programs to assist you with handling your debts. Consolidate your bills with a debt consolidation loan or use a debt management or credit counseling service for help with your credit card bills and other payments.

  • Personal Loan Financing - Looking for a small loan? Start at the personal loans directory, where you can shop and apply with different lenders and related services online.
  • Debt Management Credit Counseling - Too many credit bills for you to handle with your budget? Compare different programs and find the one that is the right match for your individual situation.

Adjusted Gross Income definition

Define Adjusted Gross Income (AGI): Your adjusted gross income is calculated during federal income tax filing and it is the amount of taxable income less certain deductions. The amount of federal income tax you pay is based on your AGI, so it is of course in your best interests to utilize available legitimate deductions.


Also, when applying for a mortgage or commercial loan or line of credit, you will often be required to provide proof of your adjusted gross income for two or more previous years in the form of your tax returns and other documents if you are self-employed. Credit cards and smaller personal loans, however, typically do not require this level of income verification.



Definitions of Finance and Debt Consolidation Loan Terms
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