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Question: Exemption Deduction. (Obj. 4) Megan files as a single taxpayer. She claims one personal exemption and one dependent. Compute Megan's 2016 exemption deduction if her AGI is:

a. $289,700.

b. $392,600.

c. $182,950.

18. Exemptions and Taxable Income. (Objs. 1 and 4) John and Jamie Kerr (ages 67 and 64, respectively) do not claim any dependents on their joint tax return. Both have good vision. Compute their 2016 taxable income if the Kerrs use the standard deduction and their AGI is $363,380.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92589765

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