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What are the differences between gross income and agi

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Reference no: EM13944191

What are the differences between the following components of taxable income? Provide at least one example of each.

1. Deductions for AGI and deductions from AGI

2. Gross income and AGI

3. AGI and taxable income

4. Tax deduction and tax credit

5. Personal exemption and dependency exemption

Reference no: EM13944191

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