Adjusted gross income is total income minus the adjustments on Schedule 1 (retirement contributions, half of self-employment tax, and others), and it is the figure most thresholds in the tax code are measured against.
Capital gains, staking income, and business profit all raise AGI. Deductions such as the standard deduction come after it.
The net investment income tax, IRS collection standards, and many credits phase in or out by AGI, so a large crypto gain in one year can change more than the tax on the gain. Net investment income tax.
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