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1. Gambling losses are deducted on the tax return as ____________. 2. The maximum percentage of AGI that can be deducted in one year as

1. Gambling losses are deducted on the tax return as ____________.

2. The maximum percentage of AGI that can be deducted in one year as a charitable contribution for the FMV of appreciated capital gain property to a public charity is ____________.

3. Taxpayers may elect to tax ____________ and ____________ at the normal tax rate and include the amounts in the calculation of net investment income.

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