Which of the Following Would Not Be a Characteristic of a Qualifying

question 72

Multiple Choice

Which of the following would not be a characteristic of a qualifying educational expense deduction?

• A)The education must be required by your employer and serve to maintain or improve your skills in your present work.
• B)The education must enable you to meet the minimum skills for your present job.
• C)It reduces your taxable income only if you itemized.
• D)For it to reduce your taxable income,your job related deductions must exceed 2 percent of your adjusted gross income.

---

Definitions:

Depreciated

The process of allocating the cost of a tangible asset over its useful life, reflecting its decrease in value over time.

Straight-Line

A technique for computing depreciation or amortization that involves uniformly distributing an asset's cost across its lifespan.

Assets

Resources owned by a person or entity that are expected to provide future economic benefits.

Depreciation Expense

An accounting method that allocates the cost of tangible asset over its useful life, reflecting how the asset loses value over time.