Choose the Correct Answer

question 52

Multiple Choice

Choose the correct answer.

• A)Education expenses are deductible on Schedule C even if the education qualifies the taxpayer for a new trade or business.
• B)Expenses required for education to maintain skills for the taxpayer's current business are not deductible.
• C)The cost of a CPA review course is deductible by a bookkeeper on his Schedule C.
• D)Expenses for travel as a form of education are not deductible.

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Definitions:

Fugue State

A rare psychological state involving loss of personal identity and memory, often accompanied by unexpected travel or wandering.

Psychogenic Amnesia

A memory disorder characterized by sudden retrograde episodic memory loss, said to occur for a period of time proceeding a traumatic event, though not due to direct physical damage.

Catatonic Schizophrenia

A type of schizophrenia characterized by abnormal movement patterns, including stupor, rigidity, or excessive, purposeless movements.

Fugue Disorder

A rare psychological disorder characterized by reversible amnesia for personal identity, including the memories, personality, and other identifying characteristics of individuality, often involving unplanned travel or wandering.