Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Where is the 199 A deduction taken on Form 1040 ? a. It is a deduction from AGI, much like the standard deduction or itemized

Where is the

199

A deduction taken on Form 1040 ?\ a. It is a deduction from AGI, much like the standard deduction or itemized deductions, and is the last deduction taken in determining taxable income.\ b. It is an itemized deduction taken on Schedule A (Form 1040).\ c. It is a deduction that reduces selfemployment income and is taken on Schedule SE (Form 1040).\ d. It is a business deduction and is taken on Schedule C (Form 1040).

image text in transcribed
Where is the 199 A deduction taken on Form 1040 ? a. It is a deduction from AGI, much like the standard deduction or itemized deductions, and is the last deduction taken in determining taxable income. b. It is an itemized deduction taken on Schedule A (Form 1040). c. It is a deduction that reduces self-employment income and is taken on Schedule SE (Form 1040). d. It is a business deduction and is taken on Schedule C (Form 1040)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

ISE Introductory Financial Accounting For Business

Authors: Thomas P. Edmonds, Christopher Edmonds

2nd Edition

1260575306, 9781260575309

More Books

Students also viewed these Accounting questions