taxable income


The amount of income subject to income taxes; found by subtracting the appropriate deductions (IRA contributions, alimony payments, unreimbursed business expenses, some capital losses, etc.) from adjusted gross income.

Use taxable income in a sentence

I had too much taxable income and could not handle any of it, so I decided to quit my job and be a nomad.

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The taxable income of the individual was determined to be in the tax bracket we had anticipated that he would be in.

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In speaking to my accountant, I learned of a variety of available strategies that could be implemented to reduce my taxable income.

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itemized deduction 1120-IC-DISC Form Schedule P