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Question 41 Match the following tax terms with their definitions. Adjusted Gross Income Taxable income Tax Deduction Tax Credit [ Choose ] [ Choose ] A pre-set dollar amount that taxpayers can subtract from their income before the tax rate is applied Individual dollar amounts that taxpayers can claim on their tax return to reduce income before the tax rate is applied. An expense that can be subtracted from an individual's gross income to reduce the total amount that is subject to tax The dollar amount subject to the tax rates All income less specific deductions An amount that taxpayers can subtract from taxes owed to the government