MLchartDataset catalogue

Adjustment

Term · Law · MLC-T-LAW-000370

A modification made to a taxpayer's gross income to arrive at adjusted gross income (AGI). These adjustments reduce the amount of income subject to tax, thereby lowering the overall tax liability. Common adjustments include deductions for educator expenses, student loan interest, and contributions to certain retirement accounts.

Table 1. Record
IdentifierMLC-T-LAW-000370
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-000370",
  "term": "Adjustment",
  "field": "Law",
  "definition": "A modification made to a taxpayer's gross income to arrive at adjusted gross income (AGI). These adjustments reduce the amount of income subject to tax, thereby lowering the overall tax liability. Common adjustments include deductions for educator expenses, student loan interest, and contributions to certain retirement accounts.",
  "url": "https://mlchart.com/terminology/law/adjustment/"
}

Record 134 of 5,445 in Law terminology (MLC-0107). Request the full dataset.