In Terms of the Tax Formula Applicable to Individual Taxpayers

Multiple Choice

In terms of the tax formula applicable to individual taxpayers, which, if any, of the following statements is correct?

A) In arriving at taxable income, a taxpayer must choose between the standard deduction and itemized deductions.
B) In arriving at AGI, personal and dependency exemptions are subtracted from gross income.
C) In arriving at taxable income, a taxpayer must choose between the standard deduction and the deduction for qualified business income.
D) The tax formula does not apply if a taxpayer elects to claim the standard deduction.
E) None of these.