You have the option of deducting 2000 as an adjustment to


You are in the 15% marginal tax bracket.

You have the option of deducting $2,000 as an "adjustment to income" on the front page of Form 1040, or you can take a $500 tax credit on the back page.

Which option will reduce your taxes by the largest amount?

A. Deduct the $2,000 as an adjustment to income

B. Take the $500 tax credit

Request for Solution File

Ask an Expert for Answer!!
Financial Management: You have the option of deducting 2000 as an adjustment to
Reference No:- TGS02710344

Expected delivery within 24 Hours