Which of the following is a true statement?
A) The standard deduction is increased for taxpayers who are blind or deaf at year end.
B) A married couple is only entitled to one addition to their standard deduction even if both spouses are both over age 65.
C) Bunching itemized deductions is an illegal method of tax avoidance.
D) Before any applicable phase-out, the deduction for personal and dependency exemptions is $3,950 times the number of exemptions.
E) All of these are true.

Question

Quizplus · Accepted Answer

The deduction for personal and dependency exemptions was $3,950 per exemption before any phase-out, according to tax laws prior to the Tax Cuts and Jobs Act of 2017.

Which of the Following Is a True Statement