Examlex
Which of the following statements about Google's Project Fi is NOT true?
Above-The-Line
refers to deductions that taxpayers are allowed to subtract from gross income to arrive at the adjusted gross income, which are beneficial as they are not subject to itemized deductions limitations.
Child Support Payment
Payments made by a non-custodial parent to support their child or children's living expenses.
Alimony Payment
Payments made to a spouse or former spouse under a separation or divorce agreement, which can be deductible for the payer and reportable as income for the recipient, under certain conditions.
Early Withdrawal Penalty
A fee charged for withdrawing funds from an investment or savings account before a specified date.
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