ACCT M50 PRINCIPLES OF INCOME TAXATION PRACTICE EXAM | FREE SOLVED ANSWERS
On Form 1040, the standard deduction from income for a single taxpayer is:
On Form 1040, the standard deduction from income for a single taxpayer is:
Multiple Choice
- a. $0.
- b. $1,500
- c. $14,600.
- d. $29,200
The correct answer is $14,600.
On Form 1040, the standard deduction from income for a single taxpayer for the tax year 2024 is $14,600. This amount is subject to change each year based on inflation adjustments.
ACCT M50 PRINCIPLES OF INCOME TAXATION PRACTICE EXAM FREE SOLVED ANSWERS