AGI vs Total Income

Submitted by james300@comcast.net on Wed, 11/25/2015 - 20:18

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For 2015, I've noticed that the AGI shown in the "Federal Taxes" report is several thousand dollars - about 4% higher - than the "total Income" shown in the "Total Income" report. Can you please explain why this should be occurring?
Thanks
James

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dan royer's picture

dan royer

Thu, 11/26/2015 - 08:22

There's a lot going on in

There's a lot going on in that Fed Taxes report that is hard to explain when you do the math, but it is correct. The difference is most likely related to nominal and real dollar conversion.

This thread may help. I can poke around and see if I can find a better explanation.

https://www.esplanner.com/question/why-adjusted-gross-income-figure-larg...

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ChrisCowles

Thu, 11/26/2015 - 09:43

Could it be summarized that

Could it be summarized that AGI is expressed using nominal dollars, while total income is expressed in real dollars?

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