Which of the following statements are correct with regard to individual tax calculation? Select all that apply.

		Taxable Income = Adjusted Gross Income Deductions - Exemptions Tax Credits
		As one may not take both itemized deductions and a standard deduction, taxpayers generally choose the deduction that results in the lesser amount of tax owed.
		Personal exemptions do not vary with the filing status.
		Personal exemptions apply only to the person filing but not those reported as dependents.