You Should Itemize Deductions When Total Itemized Deductions Exceed the Standard

question 33

True/False

You should itemize deductions when total itemized deductions exceed the standard deduction.

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Definitions:

Proximate Cause

The primary event or act that leads to a legal liability, directly resulting in the occurring damage or injury.

Strict Liability

A legal principle where a party can be held responsible for damages or harm caused without needing to prove negligence or intent.

Privity of Contract

A legal concept indicating that contracts confer rights and impose obligations only on the parties signing the contract.

Defendant's Liability

The legal responsibility of the defendant in a legal proceeding to compensate for harm caused.