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7. In addition to income tax and self-employment tax, Taxpayers may be subject to: the Alternative Minimum Tax. the Net Investment Income Tax. the Additional
7. In addition to income tax and self-employment tax, Taxpayers may be subject to:
- the Alternative Minimum Tax.
- the Net Investment Income Tax.
- the Additional Medicare Surtax.
- all of the above.
8. All of the following are examples of above-the-line deductions that are subtracted from gross income, EXCEPT:
- contributions to health savings accounts
- charitable contributions
c. qualified tuition and fees
d. IRA contributions
9. Deductions are better than credits for most taxpayers. (True/False)
10. Filing status has little or no effect on the taxpayers tax liability. (True/False)
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