For 2014, Nigel and Lola, Married Taxpayers Without Children, Calculated

question 17

Multiple Choice

For 2014, Nigel and Lola, married taxpayers without children, calculated their total allowable itemized deductions to be $17,100. Accordingly, Nigel and Lola file jointly and should deduct from adjusted gross income I. the standard deduction amount of $12,200 II. total itemized deductions equal to $17,100. III. one personal and one dependency exemption amount. IV. exemption amounts totaling $7,900.

• A) Only statement I is correct.
• B) Statements I and IV are correct.
• C) Statements I, III, and IV are correct.
• D) Statements II and IV are correct.
• E) Statements I, II, III, and IV are correct.

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Definitions:

Self-Fulfillment

The process of realizing or fulfilling one's abilities and capacities to their fullest potential.

Biomedical Therapy

Treatments for mental disorders that involve changing brain function through chemical, surgical, or physical interventions.

Psychodynamic Therapy

A therapeutic approach emphasizing the understanding of psychological processes and conflicts as they manifest in present behavior, rooted in psychoanalytic traditions.

Transference

In psychoanalytic theory, it refers to the process where patients project feelings and attitudes from a past relationship onto the therapist.