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Taxable Income

   Also found in: Legal, Acronyms, Wikipedia 0.03 sec.
Taxable income
Gross income less a variety of deductions.

taxable income
The income that is subject to taxation. Taxable income remains after accounting for adjustments and deductions.

Taxable Income
Taxable income is equal to adjusted gross income reduced by itemized deductions or the standard deduction, and by allowable personal and dependent exemptions.


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