Which of the Following Could Not Be Taken as an Itemized

question 70

Multiple Choice

Which of the following could not be taken as an itemized deduction?

• A)Commuting expenses
• B)Mortgage interest expenses
• C)Medical expenses
• D)Property taxes

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Definitions:

Overhead

The ongoing administrative, operational, or general business expenses that are not directly tied to the production of goods or services.

Depreciation Costs

The allocation of the cost of a tangible asset over its useful life.

Relevant Costs

All costs that vary with the consequence of a decision.

Irrelevant Costs

Costs that will not be affected by a decision and thus should not influence the decision-making process.