Which one of the following items is a set amount of income on which no taxes are paid?

Name: Which one of the following items is a set amount of income on which no taxes are paid?
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Quizplus · Accepted Answer

The standard deduction is a set amount of income on which no taxes are paid. It is a fixed dollar amount that reduces the amount of income that is subject to tax, and the amount varies depending on your filing status. Itemized deductions, deferred income, withholding, and capital gains all involve some form of taxation.

Which One of the Following Items Is a Set Amount