Adjustment to Income

Adjustments to Income

In U.S. tax, deductions that reduce one's taxable income. When calculating a taxpayer's tax liability, one takes the amount of money he/she has made over the tax year and takes away deductions such as contributions to IRA accounts, business expenses, and so forth. One refers to these deductions as adjustments to income.

Adjustment to Income

An expense that may be deducted even if the taxpayer does not itemize deductions. Adjustments to income are subtracted from gross income to arrive at adjusted gross income.

单词	adjustment to income
释义	Adjustment to Income Adjustments to Income In U.S. tax, deductions that reduce one's taxable income. When calculating a taxpayer's tax liability, one takes the amount of money he/she has made over the tax year and takes away deductions such as contributions to IRA accounts, business expenses, and so forth. One refers to these deductions as adjustments to income. Adjustment to Income An expense that may be deducted even if the taxpayer does not itemize deductions. Adjustments to income are subtracted from gross income to arrive at adjusted gross income.
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