Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
n2pos
New Member

Is the AIG the taxable income?

 
2 Replies
n2pos
New Member

Is the AIG the taxable income?

Is the AIG the taxable income

BillM223
Employee Tax Expert

Is the AIG the taxable income?

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.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Dynamic AdsDynamic Ads
Privacy Settings
v