Earned Income. According to the U.S. Internal Revenue Service (IRS), earned income includes only certain earnings over the course of any given year. These specific income items include your wages or salary, commissions and bonuses, as well as business income net of expenses if you are self-employed
Adjusted gross income (AGI) is an individual's total earned income minus specific deductions. Taxable income is adjusted gross income minus allowances for personal exemptions and itemized deductions. For most individual tax purposes, AGI is more relevant than earned income.
See IRS links below.
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