Examlex
You see part of the following table in a Phoenix BIOS reference: The numbers refer to
Adjusted Gross Income (AGI)
A person's entire income before adjustments, reduced by certain allowable deductions, to calculate the income subject to tax.
Gross Income
The total income received before any deductions or taxes are taken out.
Permitted Deductions
Expenses that can legally be subtracted from one's gross income to reduce the amount of income subject to tax.
Qualifying Child
A child who meets specific IRS criteria, allowing taxpayers to claim certain tax benefits.
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