Which of the Following Is an Allowable Deduction

question 27

Multiple Choice

Which of the following is an allowable deduction?

• A)unreimbursed medical expenses that exceed 7.5% of AGI
• B)state and local income and property taxes
• C)interest on qualified education loans up to a certain limit
• D)all of the above

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Definitions:

Health Status

An individual's overall condition of the body and mind in terms of the presence or absence of illness, injury, or impairment.

African Americans

An ethnic group in the United States with total or partial ancestry from any of the black racial groups of Africa, including descendants of enslaved Africans brought to the US.

Median Income

A statistical measure that divides the income distribution into two equal groups, half having income above that amount, and half having income below that amount.

Mortality

The state of being subject to death or the incidence of death within a population.