If a household has a husband, wife and two kids, has a standard deduction of $12,600, its itemized deductions are $13,850 and personal exemptions of $16,000 (4*$4,000) , then the first _____ of income is federal income tax free.
A) $28,600
B) $29,850
C) $37,100
D) $41,450
Correct Answer:
Verified
Q14: Itemized deductions are reductions of adjusted gross
Q15: If a household has a single woman
Q16: Capital gains are
A)total net income from all
Q17: The standard deduction depends on
A)family structure (i.e.
Q18: The filing status of an unmarried single
Q20: Adjusted gross income is
A)total income from all
Q21: The child credit goes to
A)children directly.
B)all households
Q22: Economists generally believe that tax credits and
Q23: If a tax is placed on one
Q24: If a person were given the choice
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