above the line

above-the-line, adj. (Of a deduction) taken after calculating gross income and before calculating adjusted gross income. • Examples of above-the-line deductions are IRA contributions and moving expenses. Formerly, indi-vidual tax returns had a dark line above which these deductions were written. Cf. BELOW-THE-LINE. [Cases: Internal Revenue 3114. C.J.S. Internal Revenue § 59.]
专业法律词汇 词条贡献者
法律翻译Grace,知名法学院法律翻译专业,擅长翻译有关传媒、体育和娱乐领域的法律文件。
Scroll to Top