Compute the taxpayers total deduction for exemptions for, Financial Accounting

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Compute the taxpayers total deduction for exemptions for

In 2015, Dominique and Felix are married and file a joint Federal income tax return. Their AGI is $312,650, and they claim three dependency exemptions.

Compute the taxpayers' total deduction for exemptions for the year.

Paul and Sonja, who are married, reported 2015 itemized deductions of $8,200 and $400, respectively. Paul suggests that they file their Federal income tax returns separately-he will itemize his deductions from AGI, and she will claim the standard deduction.

a. Evaluate Paul's suggestion.

b. What should they do?

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Financial Accounting: Compute the taxpayers total deduction for exemptions for

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Financial Accounting: Compute the taxpayers total deduction for exemptions for

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