Answer:
The correct answer is all of them. Options "A", "B", and "C" are correct.
Explanation:
AGI stands for Adjusted Gross Income. It is a term fro the internal revenue code that refers to a number used on the Form 1040 U.S. individual tax return. AGI helps to determine a person's income taxes due. The formula for the AGI is:
<em>(Gross Income from taxable sources - allowable deductions)</em>
Among those above the line deductions, we can find:
- <em>Some retirement plan investments, such as Individual Retirement Accounts (IRA), SIMPLE IRA, SEP IRA.</em>
- <em>Healthcare savings account (HSA).</em>
- <em>Part of of the tax on self-employment.</em>
- <em>Early withdrawal penalties levied by financial institutions.</em>
- <em>Losses resulting from the selling or transfer of assets.</em>
- <em>School tuition, fees and interest in student loans.</em>
As we can see, all the choices given in our case are eligible to be deducted in the AGI.
