What is sam and elizabeth allowable deduction for exemptions

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Reference no: EM131974042

Problem

Sam and Elizabeth Jefferson file a joint return. They have three children, all of whom qualify as dependents. If the Jeffersons report 2016 AGI of $333,400, what is their allowable deduction for personal and dependency exemptions?

When computing the reduction factor, round the amount up to the next whole number and use in subsequent computations.

Reference no: EM131974042

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