an amount of money that a taxpayer is allowed to subtract from the taxes that are owed. a. capital gain b…

an amount of money that a taxpayer is allowed to subtract from the taxes that are owed. a. capital gain b. deduction c. estate tax d. tax credit e. gross income f. refund g. self - employment tax h. tax return i. taxable income j. w - 2 form

an amount of money that a taxpayer is allowed to subtract from the taxes that are owed. a. capital gain b. deduction c. estate tax d. tax credit e. gross income f. refund g. self - employment tax h. tax return i. taxable income j. w - 2 form

Answer

Brief Explanations:

A deduction is an amount that a taxpayer can subtract from their taxable income, reducing the amount of taxes owed. Capital gain is profit from selling an asset, estate - tax is on property transfer after death, tax - credit is a dollar - for - dollar reduction of tax liability, gross income is total income before deductions, refund is money returned if over - paid taxes, self - employment tax is for self - employed individuals, tax return is the form for reporting income and taxes, taxable income is income subject to tax, and W - 2 form reports an employee's annual wages and taxes withheld.

Answer:

B. Deduction