What is the difference between For and From AGI deductions? Which is better for the taxpayer

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What is the difference between For and From AGI deductions?

Which is better for the taxpayer and why?

What is the difference between the standard and itemized deductions?

What is the effect of the 2017 Tax Cuts & Jobs Act on these deductions? (optional)

Please fully answer the questions with full details and explanations with examples and everything.

Related Book For answer-question

Fundamentals Of Taxation 2015

ISBN: 9781259293092

8th Edition

Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone

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Posted Date: Oct 03, 2023 06:12 AM

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What is the difference between For and From AGI deductions? Which is better for the taxpayer

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Expert Answer:

1 For AGI Deductions vs From AGI Deductions For AGI Deductions AboveTheLine Deductions These deductions are subtracted from your total income to calculate your adjusted gross income AGI They include i... View the full answer

Fundamentals Of Taxation 2015

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