Beginning in 2018,taxpayers are allowed to deduct dependency exemptions but they are not allowed to deduct personal exemptions.
Correct Answer:
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Q1: Inventory is a capital asset.
Q5: The standard deduction amount varies by filing
Q6: Taxpayers need not include an income item
Q8: Taxpayers are generally allowed to claim deductions
Q9: The character of income is a factor
Q10: Taxpayers may prepay their tax liability through
Q11: The standard deduction amount for married filing
Q15: For AGI deductions are commonly referred to
Q16: Tax credits reduce taxable income dollar for
Q19: Qualified dividends are taxed at the same
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