A Taxpayer Has Low AGI This Year, but Unusually High

question 16

Multiple Choice

A taxpayer has low AGI this year, but unusually high itemized deductions. The one itemized deduction that is allowed to increase the NOL is

• A) medical expenses.
• B) federal disaster casualty loss on personal- use assets.
• C) state and local income and property taxes.
• D) home mortgage interest.

---

Definitions:

Americans with Disabilities Act

A civil rights law that prohibits discrimination against individuals with disabilities in all areas of public life.

Fair Labor Standards Act

A U.S. law that establishes minimum wage, overtime pay eligibility, recordkeeping, and child labor standards for full-time and part-time workers.

Excluded Coverage

Specific situations, conditions, or damages that a insurance policy does not cover.

Customer's Sexual Harassment

Unwanted sexual advances, requests for sexual favors, and other verbal or physical harassment of a sexual nature by a customer.