Which of the following statements concerning the exemption phaseout is true?
A) The phaseout applies only to taxpayers with a 39.6% marginal income tax rate.
B) The phaseout can reduce a taxpayer's exemption amount to zero.
C) The phaseout doesn't apply to taxpayers who use the standard deduction instead of electing to itemize deductions.
D) Statements A.,B.,and C.are false.
Correct Answer:
Verified
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