Question: Sam and Elizabeth Jefferson file a joint return and have three children-all of whom qualify as dependents. If the Jeffersons have AGI of $327,000, what

Sam and Elizabeth Jefferson file a joint return and have three children-all of whom qualify as dependents. If the Jeffersons have AGI of $327,000, what is their allow able deduction for personal and dependency exemptions for 2014?

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Exemption amount 5 3950 19750 Step 1 AGI 327000 Phase out threshold 305050 Excess amount 2... View full answer

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