All of the Following Are Allowable Deductions Under the Alternative

question 137

Multiple Choice

All of the following are allowable deductions under the alternative minimum tax except

• A)charitable contributions.
• B)gambling losses.
• C)qualified housing interest.
• D)state income taxes.

---

Definitions:

U-joints

Universal joints, flexible couplings that allow different parts of a drivetrain to pivot or rotate, accommodating changes in angle or alignment.

ASE Certification

A certification granted by the National Institute for Automotive Service Excellence to professionals in the automotive repair and service industry.

Service Industry

The sector of the economy that provides intangible goods or services to consumers, as opposed to the production of tangible goods.

Tandem Drive

A drive system using two separate power sources or motors working together to provide propulsion or increase the vehicle's capability.