BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Adjusted Gross Income (AGI) is defined as gross income minus adjustments to income. Gross income includes your wages, dividends, capital gains, business income, retirement distributions as well as other income.

Detailed explanation-2: -MAGI is adjusted gross income (AGI) plus these, if any: untaxed foreign income, non-taxable Social Security benefits, and tax-exempt interest. For many people, MAGI is identical or very close to adjusted gross income. MAGI doesn’t include Supplemental Security Income (SSI).

Detailed explanation-3: -Taxpayers can subtract certain expenses, payments, contributions, fees, etc. from their total income. The adjustments, subtracted from total income on Form 1040, establish the adjusted gross income (AGI).

Detailed explanation-4: -Adjustments are certain expenses which can directly reduce your total taxable income. These items are not included as Itemized Deductions and can be entered independently. Adjustments include: Medical Savings Account, Form 8853.