How many U.S. individuals claim a deduction for casualties? Does it vary by size of income (AGI)?
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How many U.S. individuals claim a deduction for casualties? Does it vary by size of income (AGI)? How do casualty loss deductions compare to the amounts of other itemized deductions claimed by taxpayers? Go to the IRS tax statistics website (irs.gov/statistics), and download a recent tax year’s information on “Individual Income Tax Returns with Itemized Deductions.” Cluster the data into no more than six AGI categories. Present your findings in a visual (e.g., a bar chart), and summarize your findings in a one-page memo to your instructor.
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Related Book For
South-Western Federal Taxation 2020 Comprehensive
ISBN: 9780357109144
43rd Edition
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
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