Subtracting certain allowable amounts from the gross income results in your
1. adjusted gross net taxable income.
2. These allowable amounts, or untaxed portions of income, are called
3. adjustments.
4. deductions.
5. credits.
Subtracting certain allowable amounts from the gross income results in your adjusted gross net taxable income or AGI. This type of income refers to the total gross income that you receive minus certain specific deductions such as allowable amounts that are made when filling out your United States tax income report.
