Shannon Is Working on Her Federal Income Tax Form and Wants

question 70

Multiple Choice

Shannon is working on her federal income tax form and wants to determine if she should itemize her deductions.She has identified several possible deductions.Which of the following is an acceptable deduction?

• A) $10,000 gift to her cousin
• B) Credit card interest
• C) Medical and dental expenses less than 7.5% of AGI
• D) Miscellaneous expenses in excess of 2% of AGI
• E) Moving expenses for a new job that is 25 miles from her old home

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Definitions:

Vending Machines

Automated machines that dispense goods such as snacks, beverages, and tickets to consumers after payment.

Points of Difference

Unique features or benefits of a product, brand, or service that set it apart from its competitors in the eyes of the consumer.

Chobani Yogurt

A brand of Greek yogurt known for its high protein content, natural ingredients, and wide range of flavors, representing a prominent player in the yogurt market.

Preservative-Free

Describes products, especially food and beverages, that do not contain artificial preservatives to extend their shelf life.