Which of the Following Is a True Statement

question 2

Multiple Choice

Which of the following is a true statement?

• A) Personal exemptions, but not dependency exemptions, are subject to phase-out.
• B) A married filing joint taxpayer with AGI of $500,000 would not be able to deduct personal and dependency exemptions.
• C) At most, only 80% of exemptions are subject to phase-out.
• D) Itemized deductions, but not exemptions, are subject to phase-out.
• E) None of these is true.

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