The Basic Standard Deduction in 2016 for a Single Taxpayer,under

question 24

Multiple Choice

The basic standard deduction in 2016 for a single taxpayer,under 65 and not blind,is:

• A)$6,300.
• B)$6,200.
• C)$4,050.
• D)$9,300.

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Definitions:

Income Received

The total earnings obtained by individuals or entities, typically through employment, investments, or other sources, during a specified period.

Lower Two Quintiles

Refers to the bottom 40% of a population when it is divided into five equal groups according to income levels.

Income Earned

The total amount of money received by an individual or a business in exchange for labor or the provision of services during a certain period.

Black Children

A term referring to children of African or African American descent.