Business, Legal & Accounting Glossary
Itemized Deductions. This form is used to specify itemized deductions. It is used by individual taxpayers in supplementing the 1040 Form when the amount of itemized deductions that they are eligible to claim exceeds the amount of standard deductions that are available to them based on income tax credits and exemptions that they are available to claim.
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Definitions for 1040 Form Schedule A are sourced/syndicated and enhanced from:
This glossary post was last updated: 13th November, 2021 | 0 Views.