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Taxpayers May Not Deduct Interest Expense on Most Personal Debt,including

question 36

True/False

Taxpayers may not deduct interest expense on most personal debt,including credit card debt,car loans,and other consumer debt.


Definitions:

Iron

A metallic element essential for human life; involved in oxygen transport within the bloodstream.

Obesity

Excess accumulation of body fat; a person is considered obese if the body mass index (BMI) is 30 or higher.

Fat Cells

Cells known as adipocytes, which are specialized in storing energy in the form of fat and play a key role in metabolism, body temperature regulation, and cushioning of organs.

Leptin

A hormone produced by adipose tissue that signals brain centers about the status of energy stores.

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