Julius Is an Employee of a Large Consulting Firm

question 114

Multiple Choice

Julius is an employee of a large consulting firm. During the year he incurs the following expenses in his job, none of which are reimbursed by his employer. Julius's adjusted gross income is $100,000 before considering these expenses. What is Julius's miscellaneous itemized deduction?

• A) $14,000
• B) $16,000
• C) $21,000
• D) $22,000
• E) None of the above

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Definitions:

Formatted Screens

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Patient Accounts

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Vendors

Businesses or individuals that sell goods and services.

Double-Entry Bookkeeping System

An accounting system where every entry to an account requires a corresponding and opposite entry to a different account, ensuring the accounting equation remains balanced.