Lecture Taxation of individuals and business entities 2015 - Chapter 6: Individual deductions
Lecture Taxation of individuals and business entities 2015 - Chapter 6: Individual deductions
After completing this chapter, students will be able to: Identify the common deductions necessary for calculating adjusted gross income (AGI); describe the different types of itemized deductions available to individuals and compute itemized deductions; explain the operation of the standard deduction, determine the deduction for personal and dependency exemptions, and compute taxable income.