Examlex
Which one of the following statements is TRUE?
AGI
Adjusted Gross Income (AGI) is an individual's total gross income minus specific deductions, used in calculating taxable income.
Adoption Credit
A tax credit that offsets qualified adoption expenses, making adoption financially more accessible for families.
Qualified Expenses
Expenditures that may be eligible for tax deductions or credits, often related to education, healthcare, or investments.
Child and Dependent Care Credit
A tax credit offered to taxpayers to offset some of the costs of care for a qualifying dependent or child, to allow the taxpayer to work or look for work.
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