As mentioned above a $447 thousand adjustment to income
tax expense was recorded for revaluing deferred tax assets for the new tax law.
Historical-cost direct investment income excludes capital gains and losses and the current-cost adjustment to income
Also, this deduction is taken as an adjustment to income
, reducing your AGI.
This benefit can be taken as an adjustment to income
on the Form 1040.
Individuals can take this benefit as an adjustment to income
and do not have to itemize deductions to claim it.
The deduction is 100% (for 2003) of the amount paid for medical insurance for the employee-shareholder and his or her spouse and dependents, and is reported as an adjustment to income
Purchasers of either hybrid or other alternate-fuel vehicles can take the deduction as an adjustment to income
and don't have to itemize.
We think Congress should amend the tax code to permit tax deductions for LTC premiums above the line as an adjustment to income
A more satisfying interpretation is that the revision of the original September 11,1997, proposal introduced the setoff aspects of the penalty calculation to ensure consistency between the overall adjustment to income
arising from the cumulative effect of applying subsection 247(2) to all of a taxpayer's transactions, and the penalty base (which, in the original version, lacked the same cumulative effect).
In 1996, no adjustment to income
is necessary since actual income [TABULAR DATA FOR ILLUSTRATION 2 OMITTED] satisfies the contingency.
What's more, the IRS has said that Medicare premiums paid by self-employed individuals can be taken as an above-the-line adjustment to income