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• • • MAGI: Taxable Income 94 Taxable Income For most people, wages and salaries will constitute the majority of their taxable income Taxable income also includes income from a broad array of other sources, such as unemployment benefits, alimony received (see next slide on exceptions), interest, net business income and capital gains There are tax adjustments people can make to decrease their taxable income: ─Adjustments include alimony payments (see next slide on exceptions), interest on student loans, and other items ─Adjustments do not include charitable contributions, mortgage interest, and other itemized deductions More information to help an individual construct taxable income to follow 1 Comparing Results to Eligibility Levels Determining Household Income Constructing a Household Purpose