Allison,who Is Single,incurred $4,000 for Unreimbursed Employee Expenses,$10,000 for Mortgage

question 147

Multiple Choice

Allison,who is single,incurred $4,000 for unreimbursed employee expenses,$10,000 for mortgage interest and real estate taxes on her home,and $500 for investment counseling fees.Allison's AGI is $80,000.Allison's allowable deductions from AGI are (after limitations have been applied)

• A)$10,500.
• B)$12,900.
• C)$14,000.
• D)$14,500.

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Definitions:

European, Australian, Far East

An acronym (EAFE) referring to a major stock market index that measures the equity market performance of developed markets outside of North America.

Country Selection Return

The return attributed to the strategic selection of countries in which to invest, as opposed to stock selection or currency impact.

Benchmark

A standard or point of reference against which the performance of an investment, individual, or strategy can be measured.

EAFE

An acronym for Europe, Australasia, and Far East, indicating a stock index that represents major overseas equity markets.