What type of deductions are available to all taxpayers and reduce adjusted gross income?

Deductions that reduce adjusted gross income (AGI) are typically referred to as "above-the-line" deductions. These deductions are available to all taxpayers, regardless of whether they itemize their deductions or take the standard deduction. Above-the-line deductions can include contributions to traditional IRAs, student loan interest, tuition and fees, and certain business expenses for self-employed individuals, among others.

By lowering AGI, these deductions not only decrease taxable income but can also influence eligibility for various credits and deductions that are phased out at higher income levels. This makes them particularly valuable for tax planning purposes.