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each description carefully and type the letter of the desc These are not necessarily complete definitions, but there is only one possible answer for each term. Answer Description Term A. These are charitable contributions. Adjustments B. This is adjusted annually for changes in cost of living. C. This is a claim made by the taxpayer for each person supported by the taxpayer's Adjusted gross income Deductions income. D. Reduce AGI by the standard deduction and allowable exemptions. Standard deduction Itemized deduction E. This term includes all income less certain allowable adjustments. F. This can be either standard or itemized Exemption Itemized deduction example G. Examples of this term include charitable deductions, state and local taxes, and moving expenses. Capital gains tax categories H. This term refers to the result after deducting expenses like alimony paid and self- employment taxes, to name a few. Steps to AGI I. This figure is based on tax bracket, 5% to 15 % tax rate if held over 12 months. Steps to taxable income J. Taken against gross income,, they result in AGI Grade It Now Save& Continue 4. Vocabulary-Terminology for components of taxable income Components to Taxable Income Terminology Match the terms relating to the basic terminology and concepts of personal taxation on the left with the descriptions of the terms on the right. Read each description carefully and type the letter of the description in the Answer column next to the correct term. These are not necessarily complete definitions, but there is only one possilble answ for each term. Term Answer Description Adjustments A. These are charitable contributions. Adjusted gross income B. This is adjusted annually for changes in cost of living. C. This is a claim made by the taxpayer for each person supported by the taxpayer's Deductions income. Standard deduction Itemized deduction D. Reduce AGI by the standard deduction and allowable exemptions. E.This term includes all income less certain allowable adjustments. F This can be either standard or itemized. Exemption Itemized deduction example G. Examples of this term include charitable deductions, state and local taxes. and moving expenses. Capital gains tax categories H. This term refers to the result after deducting expenses like alimony paid and self employment taxes, to name a fev. Steps to AGI I. This figure is based on tax bracket, 5% to 15 % tax rate if held over 12 months. Steps to taxable income J. Taken against gross income, they result in AGI. Grade it No Save & Continu Continue withoutisaving

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