Question

The Wall Street Journal reported that 33% of taxpayers with adjusted gross incomes between $30,000 and $60,000 itemized deductions on their federal income tax return.

Answer 1

The Wall Street Journal reported that 33% of taxpayers with adjusted gross incomes between $30,000 and $60,000 itemized deductions on their federal income tax return.

Step-by-step explanation:

The subject of this question is Business and the grade level is High School.

A Wall Street Journal report stated that 33% of taxpayers with adjusted gross incomes between $30,000 and $60,000 itemized deductions on their federal income tax return. Itemizing deductions means that taxpayers list their deductible expenses individually instead of taking the standard deduction.

For example, if someone with an adjusted gross income of $40,000 itemizes deductions, they would claim specific expenses such as mortgage interest, property taxes, and medical expenses instead of taking the standard deduction.