All glossary terms
Glossary term
Taxable Income
Adjusted gross income reduced by the standard deduction or itemized deductions and the qualified-business-income deduction.
Related terms
2
Jurisdictions
us
Definition
Taxable income is the base on which the federal income tax is calculated. It is computed by starting with AGI and subtracting the standard deduction (or itemized deductions) and, where applicable, the Section 199A qualified-business-income deduction.
Examples
- A single filer with AGI of $80,000 and the 2024 standard deduction of $14,600 has taxable income of $65,400.
Related terms
Translations
ESingreso gravable
ZH应税收入
DEzu versteuerndes Einkommen
FRrevenu imposable
JA課税所得
Citations
26 U.S.C. · 63
Related citations
Computed from the cross-reference graph. Links open the related entity on this site.
This entry cites
- TermAdjusted Gross Income (AGI)
- TermStandard Deduction
- StatuteIRC §63
Cited by
Primary sources
- IRS Publication 17Verified 2026-05-20
Important disclaimer
This library is for general tax education only. Always verify filing obligations, due dates, and tax consequences against the cited primary source or with a qualified tax professional.