Your client received the following income during the taxable year: social security, $4,500, a gift from his brother, $1,500, and $1,000 from a Pega 4 drawing. The client has doubts about whether it is gross income or adjusted gross income. Using the information provided.

How can you explain both terms to the customer?

Answer rating: 100% (QA)

Gross income refers to the total amount of income a person earns from various sources before any ded... View the full answer