Which of the Following Statements Regarding Limitations on the Deductibility

question 84

Multiple Choice

Which of the following statements regarding limitations on the deductibility of home office expenses of self-employed taxpayers is correct?

• A)Deductible home office expenses are miscellaneous itemized deductions subject to the 2 percent of AGI floor.
• B)Deductible home office expenses are deducted as itemized deductions.
• C)Deductible home office expenses are for AGI deductions limited to gross income from the business minus non-home office-related expenses.
• D)Deductible home office expenses are for AGI deductions and may be deducted without limitation.

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Definitions:

Memories

Stored information from past experiences that can be recalled.

Sleep

A naturally recurring state of mind and body characterized by altered consciousness, relatively inhibited sensory activity, reduced muscle activity, and inhibition of nearly all voluntary muscles during rapid eye movement (REM) stages.

REM Behavior Disorder

A disorder in which the muscle paralysis that normally occurs during REM sleep is absent or incomplete, and the sleeper is able to act out his or her dreams.

Dreaming

The experience of envisioned images, sounds, or other sensations during sleep, often narrative in nature and involving elements from waking life.