Above-the-line deduction

Tax System

A deduction subtracted from gross income to calculate AGI, available regardless of whether you itemize. Examples include retirement contributions, student loan interest, and HSA contributions.

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Unit 01: income taxation

Tax System

Related Terms

Adjusted Gross Income (AGI)

Gross income minus above-the-line deductions. AGI determines...

Below-the-line deduction

A deduction subtracted from AGI, available only if you itemi...

Gross income

All income from whatever source derived, including wages, in...