Question: Term Answer Description Adjustments A. These are charitable contributions. B. This figure is based on tax bracket, 5% to 15% tax rate if held over

Term Answer Description Adjustments A. These are charitable contributions. B. This

Term Answer Description Adjustments A. These are charitable contributions. B. This figure is based on tax bracket, 5% to 15% tax rate if held over 12 months Deductions C. Many of these are based on a percentage of AGI Standard deduction D. This can be claimed if taxpayer provides more than half their support. Itemized deductionE Exemption E. This term includes all income less certain allowable adjustments F. This is adjusted gross income less deductions and exemptions G. This can be either standard or itemized example Capital gains tax categories Steps tO AGI Steps to taxable income H. Taken against gross income, they result in AGI. I. This is adjusted annually for changes in cost of living 1. This is used to calculate limits for certain itemized deductions

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