Which of the Following Items Would Be an Itemized Deduction

question 43

Multiple Choice

Which of the following items would be an itemized deduction on Schedule A of Form 1040?

• A)Professional dues paid by an accountant (employed by Ford Motor Co.) to the National Association of Accountants.
• B)Gambling losses to the extent of gambling winnings.
• C)Job-hunting costs.
• D)Subscription to the Wall Street Journal.
• E)None of these.

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Definitions:

Cashews

A type of nut known for its rich flavor and health benefits, often used in cooking and snacking.

Rate Of Trade-off

The rate at which one factor must be decreased to increase another factor while keeping overall utility constant, often used in economics to describe opportunity costs.

Producing

The act of creating, manufacturing, or generating goods or services.

Chairs

Chairs are pieces of furniture designed to provide a place to sit, typically consisting of a seat, legs, back, and sometimes armrests, used in a variety of settings from homes to offices.