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According to the text,more people than in the past are
Gambling Losses
Financial losses resulting from wagering, which can be deducted up to the amount of gambling winnings on a taxpayer’s return.
Adjusted Gross Income
Gross income minus adjustments to income. This figure is used to determine how much of your income is taxable.
Political Action Committee
A Political Action Committee (PAC) is an organization that collects political donations from members and donates those funds to campaign for or against candidates, legislation, or initiatives.
Charitable Contribution
A gift or donation made to a non-profit organization, which can often be used as a tax deduction by the donor.
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