You are in the 15 marginal tax bracketyou have the option, Ask an Expert

Finance

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

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Financial Management, Finance

Category:- Financial Management
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