Which of the Following Cannot Be Deducted as a §

question 137

Multiple Choice

Which of the following cannot be deducted as a § 162 business expense?

• A)Expenses of investing in rental property.
• B)Charitable contributions made by a sole proprietorship.
• C)Fines and penalties.
• D)Only a.and c.cannot.
• E)a., b., and c.cannot.

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Definitions:

New Opportunities

Refers to emerging chances or prospects that can potentially lead to growth, development, or benefits in various contexts such as business, career, or innovation.

Internal Locus

A psychological concept indicating that individuals believe they have control over the events in their lives.

Destiny

A predetermined course of events often considered to be an irresistible power or agency.

Franchise Outlet

A retail location operating under a licensed brand or business model granted by the franchisor.