Consider the differences between the standard deduction vs itemized deduction given the filing status In addition, compare and contrast deductions for AGI and deductions from AGI (itemized deductions) Alice Brian Craig Computation Gross Income $80,000 $80,000 $80,000 Adjusted Gross Income (AGI) Deductions ($8,000) ($4,000) 0 AGI $72,000 $76,000 $80,000 (Gross Income) (AGI Deductions) Standard Deduction ($12,000) ($12,000) ($12,000) Single Taxpayer Itemized Deduction 0 ($4,000) ($8,000) Greater Deduction (of Standard or Itemized Deductions) ($12,000) ($12,000) ($12,000) Personal Dependency Exemptions 0 0 0 The Tax Cuts Job Act (TCJA) suspended personal exemptions from 2018 2025 Taxable Income $60,000 $64,000 $68,000 (AGI) (Greater Deduction) (Personal Dependency Exemptions)

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Question: Consider the differences between the standard deduction vs. itemized deduction given the filing status. In addition, compare and contrast deductions for AGI and deductions from

Consider the differences between the standard deduction vs. itemized deduction given the filing status. In addition, compare and contrast deductions for AGI and deductions from AGI (itemized deductions).

	Alice	Brian	Craig	Computation
Gross Income	$80,000	$80,000	$80,000	-
Adjusted Gross Income (AGI) Deductions	($8,000)	($4,000)	0	-
AGI	$72,000	$76,000	$80,000	(Gross Income) + (AGI Deductions)
Standard Deduction	($12,000)	($12,000)	($12,000)	Single Taxpayer
Itemized Deduction	0	($4,000)	($8,000)
Greater Deduction (of Standard or Itemized Deductions)	($12,000)	($12,000)	($12,000)
Personal & Dependency Exemptions	0	0	0	The Tax Cuts & Job Act (TCJA) suspended personal exemptions from 2018-2025
Taxable Income	$60,000	$64,000	$68,000	(AGI) + (Greater Deduction) + (Personal & Dependency Exemptions)

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