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Standard Vs. Itemized Deductions
Standard Vs. Itemized Deductions PreviousNext

Taxable Income on Form 1040EZ

Once you enter the personal exemption and standard deduction amounts on line 5 of Form 1040EZ, you can calculate the taxable income by subtracting line 5 (exemption) from line 4 (AGI).
Lines 4 through 6 of Form 1040EZ: Line 4 = $9000, Line 5 = $8950, Line 6 = $50
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