An Itemized Deduction Doesn't Result in Any Tax Savings in a Year

question 63

True/False

An itemized deduction doesn't result in any tax savings in a year in which an individual taxpayer takes the standard deduction.

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Definitions:

Glomeromycetes

A group of endomycorrhizal fungi that form arbuscular mycorrhizae with the roots of many plants; belong to phylum Glomeromycota

Chytridiomycetes

A class of fungi characterized by producing motile spores; they are often aquatic and play roles in decomposition and nutrient cycling.

Basidiomycetes

A large class of fungi characterized by producing spores on basidia, playing crucial roles in ecosystem nutrient cycling and as food sources.

Zygomycetes

A class of fungi known for forming sexual spores called zygospores and mostly living as saprophytes.