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$42,800.
Question 6. 6. (TCO 2) _____ can be calculated as a result of various
items being subtracted from gross income, such as individual retirement
account contributions and alimony payments.
Adjusted gross income
Taxable income
Earned income
Passive income
Total exclusions
Question 7. 7. (TCO 2) Expenses that a taxpayer is allowed to deduct
from adjusted gross income are called _____.
exemptions
exclusions
itemized deductions
tax credits
passive income
Question 8. 8. (TCO 2) Taxes owed can be reduced through _____.
the standard deduction
a tax credit
an itemized deduction
an exclusion
an exemption
Question 9. 9. (TCO 2) In order for a dependent to qualify as an
exemption, he or she must
be married.
receive more than one half of his or her support from the taxpayer.