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- Q4668619 subject Q7485058.
- Q4668619 abstract "Above the line deductions are also known as "adjustments to income" and are shown on lines 23-36 of Form 1040.In the United States tax law, an above-the-line deduction is a deduction that the Internal Revenue Service allows a taxpayer to subtract from his or her gross income in arriving at "adjusted gross income" for the taxable year. These deductions are set forth in Internal Revenue Code Section 62. A taxpayer's gross income minus his or her above-the-line deductions is equal to the adjusted gross income. Because these deductions are taken before adjusted gross income is calculated, they are designated "above-the-line." Thus, those deductions allowed in computing "taxable income" under section 63 of the IRC are "below the line deductions" (thus, adjusted gross income represents "the line"). Above-the-line deductions may be more valuable to high income taxpayers than below-the-line deductions.".
- Q4668619 wikiPageWikiLink Q21964272.
- Q4668619 wikiPageWikiLink Q4467271.
- Q4668619 wikiPageWikiLink Q4683209.
- Q4668619 wikiPageWikiLink Q6094371.
- Q4668619 wikiPageWikiLink Q7485058.
- Q4668619 wikiPageWikiLink Q973587.
- Q4668619 comment "Above the line deductions are also known as "adjustments to income" and are shown on lines 23-36 of Form 1040.In the United States tax law, an above-the-line deduction is a deduction that the Internal Revenue Service allows a taxpayer to subtract from his or her gross income in arriving at "adjusted gross income" for the taxable year. These deductions are set forth in Internal Revenue Code Section 62.".
- Q4668619 label "Above-the-line deduction".