Taxes have their own language.
This description applies to a group of tax deductions you can take directly on Form 1040 . Taking these deductions can reduce your adjusted gross income. That, in turn, directly cuts your overall bill because figuring your AGI is the first step in arriving at your final taxable income amount. The loan can be for you, your spouse or your dependent and applies during the first 60 months that interest payments are required. A portion of these medical care contributions is deductible.