Income Tax Fundamentals 2020
Income Tax Fundamentals 2020
38th Edition
ISBN: 9780357391129
Author: WHITTENBURG
Publisher: Cengage
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Chapter 1, Problem 17MCQ

Taxpayers who are blind get the benefit of:

  1. An additional exemption
  2. An additional amount added to their standard deduction
  3. An additional amount added to their itemized deductions
  4. None of the above

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Students have asked these similar questions
Which one of the following is not true of itemized deductions of an individual taxpayer?     Deductions for AGI are generally preferable to itemized deductions.   Itemized deductions are deductible only if they exceed a taxpayer's standard deduction.   Residential interest is a common example of an itemized deduction.   All employee trade or business expenses are itemized deductions.
Describe the difference between the standard deduction and itemized deductions. How should a taxpayer decide whether to take the standard deduction or claim itemized deductions?
Taxable income is  a) gross income less deductions  b) total income excluding exempt less deductions and exemptions  c) gross income less state taxes, mortgage interest, and charitable contributions  d) the sum of everything a person makes

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Income Tax Fundamentals 2020

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