which of the following statements is true? select all that apply. a gross income is greater than or equal to…

which of the following statements is true? select all that apply. a gross income is greater than or equal to a persons adjusted gross income. b an individual should not file taxes if they are below the filing threshold. c adjusted gross income is greater than a persons gross income. d a persons filing threshold depends upon their filing status.

which of the following statements is true? select all that apply. a gross income is greater than or equal to a persons adjusted gross income. b an individual should not file taxes if they are below the filing threshold. c adjusted gross income is greater than a persons gross income. d a persons filing threshold depends upon their filing status.

Answer

Brief Explanations:

  • Gross income includes all income before deductions, and adjusted - gross income is gross income minus certain adjustments. So, gross income is greater than or equal to adjusted - gross income (A is true, C is false).
  • While it may not be required to file taxes if below the filing threshold, there can be reasons to file (e.g., to get a refund), so B is not always true.
  • Filing thresholds are determined based on factors like filing status (single, married filing jointly, etc.), so D is true.

Answer:

A. Gross income is greater than or equal to a person's adjusted gross income. D. A person's filing threshold depends upon their filing status.