This module focuses on gross income and Adjusted Gross Income (AGI) within the U.S. federal income tax system. It explains how deductions affect AGI and concludes with dependency rules, tax calculation, and filing requirements.

This module examines gross income with a focus on statutory inclusions. It explains how specific rules determine whether certain receipts, such as unemployment compensation or Social Security benefits, are included in income and when they must be reported.

This module focuses on statutory exclusions from gross income under IRC §61. It explains key reasons for exclusions, including non-profit transfers, economic restoration, and social policy goals.

This module introduces tax deductions and explains how for-AGI deductions reduce income to calculate Adjusted Gross Income (AGI). It covers income-related and selected personal for-AGI deductions, such as business expenses and retirement contributions, and concludes with the tax treatment of hobbies.

This module examines fact-specific rules governing expense deductibility, including differences between employees and self-employed taxpayers. It also highlights key limits and business deductions, such as nondeductible expenses, net operating losses, and the qualified business income deduction.

This module covers from-AGI deductions, including itemized deductions and other personal deductions subject to AGI limits. It concludes with income deferral and exclusion concepts, especially those related to retirement savings and earnings.

In this module, you will review the Comprehensive Example video and apply those concepts to a tax return problem.