Which of the Following Is a True Statement

question 60

Multiple Choice

Which of the following is a true statement?

• A)The deduction for interest on educational loans is subject to a phase-out limitation.
• B)The deduction for moving expenses is subject to a phase-out limitation.
• C)Self-employed taxpayers are allowed to deduct health care premiums even if the taxpayer is eligible to participate in an employer-provided health plan.
• D)Excess business losses are deductible up to $100,000.
• E)All of the choices are false.

---

Definitions:

Ad Valorem Tariff

A customs duty or tax levied on goods, calculated as a percentage of the item's total value.