Match the terms relating to the basic terminology and concepts of personal taxation on the right with the descriptions of the terms on the left. (Note: These are not necessarily complete definitions, but there is only one possible answer for each term.) Description Term This term equals gross income less adjustments. \( \qquad \) Taken against gross income, they result in AGI. \( \qquad \) Reduce AGI by the standard deduction and allowable exemptions. \( \square \) This is a cialm made by the taxpayer for each person supported by the taxpayer's income. \( \qquad \) This is taxed as ordinary income it held less than 12 months. \( \square \)

Let's match the terms with their corresponding descriptions: 1. **This term equals gross income less adjustments.** - **Term:** Adjusted Gross Income (AGI) 2. **Taken against gross income, they result in AGI.** - **Term:** Adjustments to Income 3. **Reduce AGI by the standard deduction and allowable exemptions.** - **Term:** Taxable Income 4. **This is a claim made by the taxpayer for each person supported by the taxpayer's income.** - **Term:** Dependent Exemption 5. **This is taxed as ordinary income if held less than 12 months.** - **Term:** Short-term Capital Gains So, the final matches are: - Adjusted Gross Income (AGI) \( \qquad \) This term equals gross income less adjustments. - Adjustments to Income \( \qquad \) Taken against gross income, they result in AGI. - Taxable Income \( \square \) Reduce AGI by the standard deduction and allowable exemptions. - Dependent Exemption \( \qquad \) This is a claim made by the taxpayer for each person supported by the taxpayer's income. - Short-term Capital Gains \( \square \) This is taxed as ordinary income if held less than 12 months.