https://blog.fiducial.com/wp-content/uploads/2019/06/looking-to-invest_03.jpg 200 448 fiducial https://blog.fiducial.com/wp-content/uploads/2023/05/logo_fiducial-Horozontal.png fiducial2015-02-23 21:17:142019-06-24 21:18:05ABOVE-THE-LINE DEDUCTION
The “line” in this term refers to the line drawn when totaling the items that make up the taxpayer’s adjusted gross income (AGI). The term “deduction” is usually associated with itemized deductions, but an above-the-line deduction is one that can be taken in addition to the standard deduction or itemized deductions, whichever is used. This type of deduction is taken before determining the taxpayer’s AGI; hence, the term “above-the-line.”
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