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For tax year 2018, based on the amount of the taxpayer's adjusted gross income (AGI),...

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Question

Accounting

For tax year 2018, based on the amount of the taxpayer's adjusted gross income (AGI), the amount of otherwise allowable itemized deductions will be reduced by what percent (%) on his or her California income tax return?

A. 2%

B. 5%

C. 6%

D. There will be no reduction on California tax returns as the Tax Cuts and Jobs Act repeals the overall limitation on itemized deductions

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