Answered: In lieu of itemizing deductions, a…

In lieu of itemizing deductions, a taxpayer can elect to use or claim: a. deduction for AGI b. The standard deduction. c. Itemized deduction. d. Gross deduction.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

In lieu of itemizing deductions, a taxpayer can elect to use or claim:

		a. deduction for AGI
		b. The standard deduction.
		c. Itemized deduction.
		d. Gross deduction.

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