All of the Following Items Are Deductions for Adjusted Gross

question 901

Multiple Choice

All of the following items are deductions for adjusted gross income except

• A) state and local income taxes.
• B) trade or business expenses.
• C) charitable contributions made.
• D) rent and royalty expenses.

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Definitions:

In-Kind Benefit

Non-monetary compensation or goods and services provided instead of cash, often used in social welfare programs or employee benefits.

Medicaid

A health care program in the United States that provides medical benefits to low-income individuals and families.

Federal Government

The national government of a federation, which typically has specific powers delegated to it by a constitution, distinct from state or provincial governments.

State Governments

The governing bodies of individual states within a country, responsible for local legislation and governance.