AGI: Adjusted Gross Income,
Gross income minus adjustments to income. Gross income includes your wages, dividends, capital gains, business income, retirement distributions etc.
Taxable Income: the income you pay tax on
Tax Brackets: depends on Taxable income and filing status
Taxable Income:
W-2 Box 1. Wages, Tips and other compensation
+ Stock dividends, capital gains and bank interest
+ Rental income
= AGI
-Itemized or Standard deduction
-QBI
=Taxable Income
How to calculate tax from Taxable Income:
<10K check tax table; >10K use Tax Computation Worksheet