match the word with the definition:
(A)Personal exemptions
(B)Adjustments
(C)Tax credits
(D)Itemized deductions
(1) The amount you may be able to deduct from your adjested gross income based on how you spent your money during the year.
(2) A set amount subracted from your adjusted gross income for you and each member of your family that is not dependent on filing status.
(3) An amount subtracted or added to your gross income
(4) an amount subtracted directly off of your Total Tax owed.
I think
A = 1
B= 4
C= 3
D = 2
Is this correct... Ive never done tax defintions
I do not think you have any of them right, but you put them in the good category.
If you have not done tax definitions, and this is your homework, perhaps it's time you start.
Give it another try after you have read up on the subject, and post your answers for verifications.
You have made a few incorrect matches. Here's the correct matching:
(A) Personal exemptions: (2) A set amount subtracted from your adjusted gross income for you and each member of your family that is not dependent on filing status.
(B) Adjustments: (3) An amount subtracted or added to your gross income.
(C) Tax credits: (4) An amount subtracted directly off of your Total Tax owed.
(D) Itemized deductions: (1) The amount you may be able to deduct from your adjusted gross income based on how you spent your money during the year.
So the correct matching is:
A = 2
B = 3
C = 4
D = 1
To determine the correct matches, it helps to understand the definitions of these terms and the context of taxation. Personal exemptions are a set amount subtracted from your income for you and your family. Adjustments are amounts subtracted or added to your gross income. Tax credits directly reduce your total tax owed. Itemized deductions are expenses that you can deduct from your adjusted gross income.