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    Rik12's Avatar
    Rik12 Posts: 3, Reputation: 1
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    #1

    Jan 26, 2013, 07:53 PM
    Adjusted gross income
    My salary is $53,000. I got an inheritance for $20,000. I have exemptions and deductions for $5,000. What is my AGI?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    Jan 26, 2013, 09:39 PM
    This definitely sounds like a homework question, because the exemptions and deductions are NOT up to the modern personal exemption amounts of $3,800 for personal exemption and $5,800 for the standard deduction.

    That said, your AGI is $48,000. The inheritance is NOT subject to income taxes and thus NOT part of your AGI.
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