Question 15 of 25 Which of these could change a taxpayer's adjusted gross income when filling a federal income tax return? A. Charitable contributions made B. Contributions to an IRA C. Casualty and theft losses D. Medical and dental expenses

Question

Question 15 of 25 Which of these could change a taxpayer's adjusted gross income when filling a federal income tax return? A. Charitable contributions made B. Contributions to an IRA C. Casualty and theft losses D. Medical and dental expenses

Answer 1

The correct answer is C.

Answer 2

## Step 1Adjusted Gross Income (AGI) is a measure of income used to determine a person's tax liability. It includes all income earned during the year, such as wages, salaries, and tips, as well as other sources of income like interest, dividends, and capital gains. However, certain deductions and adjustments can be made to this income to arrive at the AGI.## Step 2Option A, charitable contributions, are not subtracted from gross income to arrive at AGI. Instead, they are subtracted from AGI to arrive at taxable income.## Step 3Option B, contributions to an IRA, are also not subtracted from gross income to arrive at AGI. Instead, they are subtracted from AGI to arrive at taxable income.## Step 4Option C, casualty and theft losses, are subtracted from gross income to arrive at AGI. These are losses that occur due to unexpected events such as natural disasters or theft.## Step 5Option D, medical and dental expenses, are not subtracted from gross income to arrive at AGI. Instead, they are subtracted from AGI to arrive at taxable income.

Problemas

Question 15 of 25 Which of these could change a taxpayer's adjusted gross income when filling a federal income tax return? A. Charitable contributions made B. Contributions to an IRA C. Casualty and theft losses D. Medical and dental expenses

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