Which of the Following Expenses, If Any, Qualify as Deductible

question 48

Multiple Choice

Which of the following expenses, if any, qualify as deductible?

• A)Contributions to a Coverdell Education Savings Account (CESA).
• B)Contributions to a qualified tuition program (§ 529 plan).
• C)Job-hunting expense of FBI agent who applies for the job of city manager of Beaumont, TX.
• D)Contribution to a traditional IRA.
• E)None of these.

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Definitions:

Pollution Control

The implementation of measures to reduce or eliminate the emission of pollutants into the environment.

Pollution Abatement

Measures and efforts taken to reduce, control, or eliminate pollution from a particular source.

Negative Externalities

Costs that are suffered by a third party as a result of an economic transaction that they were not directly involved in.

Opt Out

The choice made by individuals to not participate in a program, activity, or to forego a service, often involving a default option or requirement.