All of the following statements concerning itemized deductions are correct EXCEPT (A) All itemized deductions are below-the-line deductions. (B) A taxpayer can either itemize deductions or claim the standard deduction. (C) Itemized deductions are claimed on Schedule B of IRS Form 1040. (D) The standard deduction amounts are indexed annually for inflation. All of the following statements regarding a durable pow of attorney are correct EXCEPT (A) It takes effect immediately upon execution. (B) It can be designed for use in making medical care decisions. (C) It becomes inoperative if the principal is incapacitated. (D) It can replace or complement a revocable trust