Your gross income is the total amount of income you receive in the form of money, property, or services that is subject to tax. Expenses that may be deducted from that amount are known as 'adjustments' to income. These adjustments can include payments made to IRA (I-R-A) accounts, student loan interest, and Keogh (KEE-oh) retirement plans. When these adjustments are subtracted from the gross income, the result is your adjusted gross income, or AGI (A-G-I). This figure is important because it must be determined before you can subtract any deductions used to calculate your taxable income. Generally, the lower your AGI, the less likely you'll be affected by limitations that can cut the value of some of your itemized deductions, exemptions, and tax credits. For specific information regarding adjusted gross income, talk to a tax advisor or call the toll-free number for federal tax information and assistance at 1-800-829-1040.