gross income

The IRS has free tax software for those whose Adjusted Gross Income is below $84,000 annually.

“Combined income” is defined as taxpayers’ adjusted gross income, plus their nontaxable interest earnings and half of their Social Security benefits.

Furthermore, medical expenses must exceed 7.5% of your adjusted gross income to be deductible, notes Mark Luscombe, principal analyst for Wolters Kluwer Tax & Accounting.

For instance, a family of four would qualify with a total annual gross income of $48,400 or less.

Mr. Biden’s earnings proved more modest than the early hype had suggested: He reported $130,984 in gross income from art sales during the first two tax years that he was represented by the gallery, according to his tax returns from those years.