Consider a scenario where an individual might have multiple types of deductions or potential losses. This could involve a self-employed individual, a homeowner with certain expenses, or someone who has experienced a financial loss. In your post, please: 1. Describe a specific scenario involving an individual who could potentially claim at least two different types of deductions or has incurred a potential loss. Be specific about the nature of these deductions/losses (e.g., hoe office expense, business supplies, capital loss from selling an asset depreciation of business equipment). 2. For each deduction or loss that you've identified, briefly explain the general requirements or limitations for claiming it. Reference the relevant concepts that were covered this week. 3. Discuss how these different deductions and/or losses would collectively impact the individual's adjusted gross income (AGI) and potentially their overall tax liability. Why is it important to understand and correctly apply these different types of deductions and losses