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Please help me match the letter to the correct term. I also attached a word doc for your convenience. Adjustments A This is the amount

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Please help me match the letter to the correct term. I also attached a word doc for your convenience.

Adjustments

A

This is the amount that remains after you subtract your allowable adjustments from your gross income.

Adjusted gross income (AGI)

B

This can be claimed if a taxpayer provides more than half of a person?s financial support.

Deductions

C

Examples of these deductions include employee, personal retirement, higher education, and support expenses, and reduce a taxpayer?s gross income.

Standard deductions

D

A charitable contributions is an example.

Itemized Deductions

E

This is a fixed blanket deduction that includes various deductible expenses normally incurred by taxpayers.

Exemptions

F

Examples of these expenditures include charitable deductions, residential mortgage interest expense, and moving expenses, and are used to reduce a taxpayer?s AGI.

Example of an itemized deduction

G

This deduction is created by a taxpayer?s child and dependent care expenses, the purchase of a qualified electric vehicle, or the payment of foreign taxes or mortgage interest. It results in a dollar-for-dollar reduction in a taxpayer?s tax obligation.

Capital gain

H

This term refers to allowable expenses that are deducted from a taxpayer?s adjusted gross income (AGI).

Tax credit

I

This objective can be achieved with effective tax planning activities. It is legal and consistent with the intent of Congress.

Tax avoidance

J

This type of transaction is created when an asset (e.g., a stock, bond, or real estate) is sold for more than its original cost.

image text in transcribed Adjustments A. This is the amount that remains after you subtract your allowable adjustments from your gross income. Adjusted B. This can be gross income claimed if a (AGI) taxpayer provides more than half of a person's financial support. Deductions C. Examples of these deductions include employee, personal retirement, higher education, and support expenses, and reduce a taxpayer's gross income. Standard D. deductions A charitable contributions is an example. Itemized E. deductions This is a fixed blanket deduction that includes various deductible expenses normally incurred by taxpayers. Exemptions F. Examples of these expenditures include charitable deductions, residential mortgage interest expense, and moving expenses, and are used to reduce a taxpayer's AGI. Example of G. This an itemized deduction is deduction created by a taxpayer's child and dependent care expenses, the purchase of a qualified electric vehicle, or the payment of foreign taxes or mortgage interest. It results in a dollar-fordollar reduction in a taxpayer's tax obligation. Capital gain H. This term refers to allowable expenses that are deducted from a taxpayer's adjusted gross income (AGI). Tax credit I. This objective can be achieved with effective tax planning activities. It is legal and consistent with the intent of Congress. Tax avoidance J. This type of transaction is created when an asset (e.g., a stock, bond, or real estate) is sold for more than its original cost

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