1. Taxpayers may elect to deduct state and local sales taxes instead of deducting state and local income taxes.

   True

   False

2. The taxable income levels in the married filing jointly tax rate schedule are ________ those in the married filing separately schedule.

   		double
   		the same as
   		half the amount of
   		none of the choices are correct

3. To qualify for the earned income credit, the taxpayer must have a qualified dependent.

   True

   False

4. QUESTION 42

5. Which of the following is a true statement?

   		The deduction for investment interest expense is not subject to limitation.
   		A taxpayer who incurs acquisition indebtedness in 2018 may only deduct interest on up to $750,000 of acquisition indebtedness.
   		Taxpayers may only deduct interest on up to $1,500,000 of acquisition indebtedness.
   		Taxpayers may deduct interest on up to $1,000,000 of home-equity debt.
   		None of the choices are correct.