Take a moment to review what you have covered in this lesson:
Adjustments to income are subtractions from total income. Total income minus adjustments equals the adjusted gross income (AGI).
Adjustments that taxpayers can claim on either Form 1040A or 1040 are the deductions for:
- Penalty for early withdrawal of savings
- IRA deduction
- Student loan interest deduction
- Jury duty pay given to employer
Other adjustments to income must be reported on Form 1040.
|
