Compensation for active service in a combat zone (with specific limits for commissioned officers) is excluded from Gross Income as well as BAH, other living, travel, and specific moving allowances. Part 1 defined Gross Income as the aggregated income from all sources, minus allowable exclusions, with some common sources of household income including all W-2s State / Local Tax Refunds Investment Interest and Dividend Income (1099-INT / 1099-DIV) Rental Income (Schedule E) Mutual Fund and Stock Sales (1099B) IRA and Pension Income (1099R) and Social Security Income. Allowable reductions in AGI (Above the Line deductions) can have a compounding effect on post-AGI deductions and increases the availability of other tax credits. AGI determination is a crucial, intermediate step to determining taxable income.
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