G had income and expenses as follows for the current taxable year: Total income
Exclusions (municipal bond interest) 2,000
Deductions for A.G.I.
Total itemized deductions 9,920
Standard deduction 5,150
Exemption deductions What are G's adjusted gross income and her taxable income, respectively? Assume all amounts are correct.
A) $29,200; $12,680
B) $31,200; $14,680
C) $29,200; $17,050
D) $28,000; $12,680
Correct Answer:
Verified
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