1- In terms of the tax formula applicable to individual taxpayers, which of the following statements, if any, is correct?

a. In arriving at AGI, a taxpayer must elect between claiming deductions for AGI and deductions from AGI.

b. In arriving at taxable income, a taxpayer must elect between claiming deductions for AGI and deductions from AGI.

c. If a taxpayer has deductions for AGI, the standard deduction is not available.

d. In arriving at taxable income, a taxpayer must elect between deductions for AGI and the standard deduction.

e. None of these.

2- Regarding the tax formula and its relationship to Form 1040, which of the following statements, if any , is correct?

a. Most exclusions from gross income are reported on page 2 of Form 1040.

b. An above-the-line deduction refers to a deduction from AGI.

c. A Schedule 1 deduction refers to a deduction for AGI.

d. A taxpayer's AGI amount appears both at the bottom of page 1 and at the top of page 2 of Form 1040.

e. None of these.

3- During 2019, Marvin had the following transactions: Salary $50,000 Bank loan (proceeds used to buy personal auto) 10,000 Alimony paid (divorce was finalized in 2010). 12,000Child support paid 6,000 Gift from aunt 20,000 Marvins AGI is:

a. $32,000.

b. $38,000.

c. $44,000.

d. $56,000.

e. $64,000.

Please answer all 3 questions. Thank you :)