Some above-the-line deductions, which are also known as "adjustments to income," will also have limitations, but they're usually less restrictive than below-the-line deductions and directly offset ...

So in a nutshell, above-the-line deductions will always lower your taxes, but below-the-line ones may not, if they don't exceed your standard deduction amount. Those who are self-employed will ...

Until enactment of the One Big Beautiful Bill Act, officially P.L. 119-21, the availability of a below-the-line deduction that was not the standard deduction or an itemized deduction was a rare event.

Or are you operating below the line?” “If you're operating below the line, you are closed to new ideas, you are defensive, and you are committed to being right.

This was not the only change, however. Rather than the deduction being above-the-line like in 2020, for the 2021 tax filing year, it is the equivalent of a below-the-line deduction.