Standard or itemized deductions

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Reference no: EM132426145

Identify where the following items show up on the first two pages of the 2017 Form 1040. Why is this significant?

Gross income (realized income from whatever source derived minus excluded or deferred income)

For AGI deductions

Schedule C Business Income and Expense

Schedule E Rental Income and Expense

Schedule D Gains and Losses

Alimony Income and Alimony Expense

Standard or Itemized Deductions

Exemptions

Tax

In addition, list one item of gross income that is excluded from income. Explain why it should be excluded.

Reference no: EM132426145

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