Below-the-Line Deduction

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Below-the-Line Deduction
Below-the-Line Deduction Itemized Deduction Taxation Adjusted Gross Income Taxable Income
A below-the-line deduction, also referred to as an itemized deduction, is a tax deduction that taxpayers can claim on their federal income tax returns. These deductions are subtracted from a taxpayer's adjusted gross income (AGI) to determine their taxable income, ultimately reducing the amount of tax owed.
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