Which of the Following Is Not Deductible

question 115

Multiple Choice

Which of the following is not deductible?

• A)Expenses related to earning dividends on a portfolio of "blue chip" stocks.
• B)Expenses related to interest income from municipal bonds.
• C)Legal expenses related to rental real estate property.
• D)Medical expenses of the taxpayer's dependent child.

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Definitions:

Commodity Resources

Basic goods used in commerce that are interchangeable with other goods of the same type.

Fracking

A method of oil and gas extraction that involves injecting liquid at high pressure into subterranean rocks, boreholes, etc., to force open existing fissures and extract oil or gas.

U.S. Oil Supply

The total quantity of oil available for use or consumption in the United States, coming from domestic production and imports.

Sustainable Forests

Sustainable forests are managed with the aim of maintaining their biodiversity, productivity, and regeneration capacity for future generations without causing damage to other ecosystems.