Which of the Following Cannot Be Adjustment(s)to Gross Income on the 1040

question 72

Multiple Choice

Which of the following cannot be adjustment(s) to gross income on the 1040 form?

• A)Health insurance premiums paid by self-employed individuals
• B)Alimony paid
• C)Moving expenses
• D)Traditional IRA contributions
• E)Child care deductions

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Definitions:

Petty Cash

A small amount of cash on hand used for minor and incidental expenses within a business.

Supporting Documents

Supporting documents are the paper or digital records that provide evidence for transactions recorded in accounting books.

Voucher System

An internal control system designed to control a company’s cash payments.

Stock Certificate

Formal document issued to investors in a corporation that shows the number of shares purchased.