Keyword Analysis & Research: form 1040 2020 agi line

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What is above the line deductions?

An above the line deduction is an item that is subtracted from gross income in order to calculate adjusted gross income on the IRS form 1040. The IRS form 1040 is used by individual U.S. taxpayers and households to calculate and file their yearly taxes.

What is an above the line deduction?

Above-the-line deductions are also called adjustments to income. They deal with a handful of specific, personal expenses that you may have incurred during the year. Each deduction you claim reduces how much of your income from the year is subject to income tax. After making those reductions, you arrive at your AGI (adjusted gross income).


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