Examlex
The figure below demonstrates that
AGI
Adjusted Gross Income (AGI) is a measure of income calculated from your gross income and used to determine how much of your income is taxable.
Depreciation
The accounting process of allocating the cost of a tangible or physical asset over its useful life, used to represent wear and tear or obsolescence.
Net Income
The amount of money remaining after all operating expenses, taxes, and deductions are taken out from total revenue.
Rental Property
Real estate property that is leased or rented to tenants, generating rental income for the owner.
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