Regarding the tax formula and its relationship to Form 1040, which, if any, of the following statements, is correct?
a. Most exclusions from gross income are reported on page 2 of Form 1040.
b. An "above the line deduction" refers to a deduction from AGI.
c. A "page 1 deduction" refers to a deduction for AGI.
d. The taxable income (TI) amount appears both at the bottom of page 1 and at the top of page 2 of Form 1040.
e. None of these.
Answer: C & D.