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Under the Federal income tax formula for individuals, the determination of adjusted gross income (AGI) precedes that of taxable income (TI).True False Because they appear
Under the Federal income tax formula for individuals, the determination of adjusted gross income (AGI) precedes that of taxable income (TI).True False Because they appear on page 1 of Form 1040, itemized deductions are also referred to as "page 1 deductions." True False A decrease in a taxpayer's AGI could increase the amount of medical expenses that can be deducted. True False An increase in a taxpayer's AGI could decrease the amount of charitable contribution that can be claimed. True False Adjusted gross income (AGI) appears at the bottom of page 1 and at the top of page 2 of Form 1040. True False
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