This question is about deductions for adjusted gross income.
According to my textbook (southwestern individual income...
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Accounting
This question is about deductions for adjusted gross income.According to my textbook (southwestern individual income taxes2019), “excess capital losses” is considered a deduction for AGI.Does this mean business capital losses or personal capital losses(such as losses on personal property - a personal use car )?
Also how do I know when a deduction is For AGI or From AGI? Isthere a foolproof way to tell
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All capital gains and losses are included in your adjusted gross income That is personal property losses and loss on cars are also included A capital gain increases your income on your tax return a
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