BUSN 380 study Great Stories/busn380study.com BUSN 380 study Great Stories/busn380study.com | Page 39

Adjusted gross income
Taxable income
Earned income
Passive income
Total exclusions
Question 7.7. (TCO 2) When filing your taxes, a set amount on which
no taxes are paid is called _____.
itemized deductions
withholding
an earned tax credit
the standard deduction
capital gains
Question 8.8. (TCO 2) Taxes owed can be reduced through _____.
the standard deduction
a tax credit
an itemized deduction
an exclusion
an exemption