Which one of the following statements describes the limitations applicable to the calculation of individual...
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Accounting
Which one of the following statements describes the limitations applicable to the calculation of individual income taxes?
A. Personal exemptions are $0.
B. The standard deduction for an individual who may be claimed as a dependent by another taxpayer is the same as that of an individual who may not be so claimed.
C. The standard deduction can be entirely phased out at certain levels of AGI.
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