Deductions for AGI may be locatedAnswers:on Schedule C as a deduction.on the front page of Form 1040.on Schedule E as a deductio

Question

Llana [10]

3 years ago

14

Deductions for AGI may be locatedAnswers:on Schedule C as a deduction.on the front page of Form 1040.on Schedule E as a deductio

n.All of the above are true.

Business

1 answer:

storchak [24] · Answer 1 · 2022-03-30T23:21:08+03:00

Answer:

The correct answer is letter "D": All of the above are true.

Explanation:

Adjusted Gross Income or AGI is a term from the Internal Revenue Code that refers to a number used on the Form 1040 U.S. individual income tax return. It is used to determine a person's income taxes due. It actually subtracts all allowable deductions from that person's gross income. Those deductions can be located in both Schedule C and E of the IRS From 1040.