Adjusted Gross Income - ENGAGE CPAs

Textbook Definition: Gross income (wages, dividends, business income, retirement distributions) from all sources minus any adjustments to income (student loan interest paid, self-employed health insurance paid, IRA contributions). You and your spouse have one combined AGI if you file your taxes together.
Definition You Need to Know: Adjusted Gross Income is the combination of all of your income from all sources, including your spouses' income. AGI is an important number because it is one of the main factors mortgage companies use to determine whether or not they'll approve you for a mortgage, based on how much income you show on your tax return.