Questions: Your adjusted gross income is your total income for the year.

Your adjusted gross income is your total income for the year.
Transcript text: Your $\square$ income is your total income for the year. adjusted gross gross
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Solution

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The answer is: gross

Explanation:

  • Gross Income: This is the total income earned by an individual or a business before any deductions or taxes are applied. It includes all sources of income such as wages, salaries, bonuses, rental income, dividends, and any other earnings. Therefore, when referring to "your total income for the year," it is typically the gross income that is being referenced.

  • Adjusted Gross Income (AGI): This is your gross income minus specific deductions allowed by the IRS, such as contributions to retirement accounts, student loan interest, and certain other expenses. AGI is used to determine your taxable income and eligibility for certain tax credits and deductions.

In the context of the question, "your total income for the year" refers to the gross income, as it encompasses all earnings before any deductions are made.

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