An IRS-Allowed Reduction in Your Income for Yourself,your Spouse,and Any

question 57

Multiple Choice

An IRS-allowed reduction in your income for yourself,your spouse,and any dependents that is subtracted before you compute your taxes is called a(n)

• A)itemized exemptions.
• B)standard exemptions.
• C)marital exemptions.
• D)personal exemptions.

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Definitions:

Percentiles

Statistical measures indicating the value below which a given percentage of observations in a group of observations falls.

Interquartile Range

A measure of variability, defined as the difference between the first and third quartiles, describing the middle 50% of a data set.

25th Percentile

A value below which 25% of the data falls.

75th Percentile

A value below which 75% of the data points in a dataset fall, used as a measure of dispersion.