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Fundamentals of Taxation 2017
Quiz 1: Introduction to Taxation,the Income Tax Formula,and Form 1040ez
On Form 1040ez,the Permitted Deduction from Income for Married Taxpayers
Question 116
Multiple Choice
On Form 1040EZ,the permitted deduction from income for married taxpayers is: A)$31,050. B)$20,700. C)$1,500. D)$10,350.
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Related questions
Q 117
Victoria determined her tax liability was $6,451.Her employer withheld $6,145 from her paychecks during the year.Victoria's tax return would show A)A refund of $306. B)Tax due of $306. C)Tax due of $6,145. D)A refund of $6,451.
Q 118
For equivalent amounts of taxable income,the total tax liability of a couple using the married filing jointly status: A)Will be more than married filing separately status. B)Will be less than single filing status. C)Will be more than single filing status. D)Cannot be determined with the information provided.
Q 119
Alice is an employee of Valley Company.Alice properly completed her Form 1040EZ tax return and received a refund from the IRS of $1,244.Alice had income tax withholdings during the year of $4,782.Alice's tax liability for the year was: A)$6,026. B)$3,538. C)$1,244. D)$4,782.
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