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Standard deduction |
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Standard deductionThe IRS-specified amount by which a taxpayer is entitled to reduce income an alternative to itemizing deductions.Standard deduction Similar MatchesDividends received deductionDividends received deductionA corporate tax deduction on income allowed by company A that is in ownership of shares of company B and receives dividends on the shares of company B. DeductionDeductionAn expense that is allowable as a reduction of gross taxable income by the IRS e.g., charity donations. Tax deductionTax deductionA provision of the tax code that specifies an amount by which a taxpayer's tax base will be reduced in return for some behavior, resulting in a lowering of the amount of tax paid that depends on their tax rate. Interest deductionInterest deductionAn interest expense, such as interest on a margin account, that is allowed as a deduction for tax purposes. Itemized deductionItemized deductionSpecific deductions allowed by the IRS outlined in the tax return. Further Suggestionsdeductionmortgage interest deduction Tax deduction Marital deduction certificate of deduction of tax Mortgage interest deduction Unlimited marital deduction |
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