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Which of the following statements regarding exemptions is correct? Personal exemptions are more valuable than...

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Accounting

Which of the following statements regarding exemptions is correct?

Personal exemptions are more valuable than dependency exemptions.

Taxpayers filing a married filing joint return are limited to two exemptions on their tax returns.

Exemption amounts are considered to be for AGI deductions.

Taxpayers subtract exemption deductions from adjusted gross income in determining taxable income.

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