Adjustments and Deductions to Taxable Income
Free CPA REG (Taxation & Regulation) lesson in Federal Taxation of Individuals. 34 min read, ~5,118 words.
Adjustments (above-the-line) reduce gross income to AGI; available whether or not the taxpayer itemizes. Traditional IRA deductibility depends on plan coverage and income, with a full deduction at any income when no employer plan exists; Roth contributions are never deductible. Student loan interest deduction capped at \$2,500 with a MAGI...
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What this lesson covers
- Content
- Example 1
- Example 2
- Example 3
- Example 4
- Example 5
- Example 6
- Example 7
- Example 8
- Example 9
- Example 10
- Common Mistakes
- Check Your Understanding
- Exam Shortcuts
Learning objectives
- IV.C1
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