Examlex
A young child enters a store by pushing a door open. Every time they come to a door after that, the child pushes the door expecting it to open, even though many doors only open by pulling. This is an example of:
Itemized Deduction
Deductions that taxpayers can claim for certain personal expenses, instead of taking a standard deduction. These can include expenses for healthcare, taxes, interest, and gifts to charity.
Foreign Tax Credit
A nonrefundable tax credit for income taxes paid to a foreign government, aimed at reducing double taxation.
Qualified Adoption Expenses
include necessary costs directly related to and for the principal purpose of the legal adoption of a child, which under certain circumstances, can be tax deductible.
Adoption Credit
A tax credit that offsets qualified adoption expenses, making adoption financially feasible for more families.
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