COMPARISON OF ABOVE- AND BELOW-THE-LINE
01.Core Concepts
ITEMIZED DEDUCTIONS (2026) Single taxpayer under age 65 has gross income of $50,000. What is the taxpayer’s taxable income if she has an $8,000 for-AGI (above-the-line) deduction in comparison to an $8,000 itemized (below-the-line) deduction. From AGI For AGI Tax Formula $50,000 $50,000 Gross Income 0 $8,000 Less: For-AGI Deduction $50,000 $42,000 AGI $16,100 $16,100 Less: From-AGI Deduction (standard / itemized) $33,900 $25,900 Taxable Income