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Taxpayers who recover all or part of an item that they deducted or credit for in a prior year must report the same amount as
Taxpayers who recover all or part of an item that they deducted or credit for in a prior year must report the same amount as _______. Taxable income. A refundable credit. A negative deduction. A negative credit. Medical expenses are subject to 10% of AGI, or 7.5% of adjusted gross income (AGI) if the taxpayer or spouse is 65 or older and are deductible _______. In the year they are paid. On the date the bill is mailed. When the bill is received. When the services are provided. If a taxpayer who paid points to lower the rate of interest on a refinanced loan pays off the mortgage early ________. The points are deducted ratably over the life of the original loan. The points are not deductible on Schedule A. The remaining points are deducted on schedule A the year the loan is paid off. The unused points reduce the basis of the property
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