n2pos
New Member

Is the AIG the taxable income?

 
n2pos
New Member

Get your taxes done using TurboTax

Is the AIG the taxable income

BillM223
Expert Alumni

Get your taxes done using TurboTax

AGI (note spelling) is the Adjusted Gross Income.

 

The AGI is your income BEFORE your Standard Deduction/Itemized Deductions and Qualified business income deduction (if any). On the 2020 1040, this is line 11.

 

Taxable income is AFTER your Standard Deduction/Itemized Deductions and 

Qualified business income deduction (if any). This is line 15 on the 2020 1040.

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