Currently,the Social Security Trust Fund Is Running a

question 64

Multiple Choice

Currently,the Social Security trust fund is running a

• A)deficit,which reduces the apparent size of the budget deficit.
• B)surplus,which reduces the apparent size of the budget deficit.
• C)surplus,which increases the apparent size of the budget deficit.
• D)deficit,which increases the apparent size of the budget deficit.

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Definitions:

AGI

Adjusted Gross Income, an individual's total gross income minus specific deductions, used in the United States tax system to determine taxable income.

Dependent Daughters

This term is not an official tax term but generally refers to daughters who qualify as dependents on someone's tax return due to financial support and other IRS criteria.

AGI

Adjusted Gross Income, which is gross income minus allowable deductions, used to determine taxable income on an individual's federal income tax return.

Modified AGI

Adjusted Gross Income adjusted by adding back certain deductions, often used to determine eligibility for various tax credits and retirement plans.