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Marsha and Steve spend a lot of time together; in addition to sharing an interest in art, they also helped each other deal with romantic breakups and family tragedies. What type of friendship do they have?
Modified AGI
Adjusted Gross Income (AGI) altered by adding back certain deductions, often used to determine eligibility for specific tax benefits.
Joint Tax Return
A tax filing status for married couples who choose to file one tax return jointly, combining their incomes and deductions.
Qualifying Child
A dependent who meets specific IRS criteria regarding relationship, age, residence, and support, allowing taxpayers to claim certain credits and deductions.
Education Tax Credits
Tax credits that taxpayers can claim for eligible educational expenses, aimed at reducing the amount of tax owed to the government.
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