Which of the following statements describing individual tax deductions is false?
A) In a year in which an individual takes the standard deduction, any itemized deductions yield no tax benefit.
B) The majority of individual taxpayers itemize rather than taking the standard deduction.
C) Individuals elect to itemize deductions in a tax year in which total itemized deductions exceed the standard deduction.
D) Individuals who pay self-employment tax can deduct a portion of the tax as an above-the-line deduction.
Correct Answer:
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