A Nondeductible Floor of 2% of AGI Is Imposed on Unreimbursed

question 63

True/False

A nondeductible floor of 2% of AGI is imposed on unreimbursed employee business expenses,investment expenses,and many other miscellaneous itemized deductions such as tax preparation fees.

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Definitions:

Tunica Interna

Also known as the intima, it is the innermost layer of a blood vessel, lining the lumen.

Tunica Intima

The innermost layer of a blood vessel, consisting of a thin layer of endothelial cells that line the lumen.

Tunica Externa

The outermost layer of a blood vessel, composed largely of connective tissues, which provides support and protection.

Tunica Media

The middle layer of the wall of a blood vessel or lymph vessel which is made up of smooth muscle cells and elastic tissue.