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Calculating adjusted gross income

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The personal exemption phase-out and Pease provision both rely on a calculation on the 1040 tax form known as adjusted gross income, or AGI. AGI is figured by taking your total income and subtracting certain payments, including moving expenses, tuition, student loan interest and IRA deductions. "It's basically a measure of income potentially subject to tax," said Roberton Williams, a senior...

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