8 In terms of the tax formula applicable to individual taxpayers, which, if any, of the following statements is correct? To compute AGI, the taxpayer must subtract the greater of itemized deductions or standard deduction. In 2022, charitable contributions can either be deducted FOR AGI or as as itemized deduction. To compute taxable income, a taxpayer must choose between the standard deduction and the deduction for qualified business income. To compute taxable income, a taxpayer must choose between the standard deduction and itemized deductions