Solved
Is taxable income the same as adjusted gross income? I'm trying to be ready for next year.
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No, not quite.
Adjusted Gross Income (AGI) is your income combined with several Adjustments, such as moving expenses and IRA Deduction.
It is reported on 1040 line 37; 1040A line 21; or 1040EZ line 4.
Your Exemption and Deductions (Standard or Itemized) are subtracted from that to get to your "taxable income".
It is reported on 1040 line 43; 1040A line 27; or 1040EZ line 6.
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