Which, If Any, of the Following Expenses Are Not Subject

question 7

Multiple Choice

Which, if any, of the following expenses are not subject to the 2%-of-AGI floor?

• A)Safety shoes purchased by an employed plumber.
• B)Reimbursed employee expenses.Taxpayer-employee renders an adequate accounting to the employer.
• C)Unreimbursed employee expenses.
• D)Tax return preparation fee paid by a non-employed retiree.
• E)None of the above.

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Definitions:

Producer Surplus

The difference between what producers are willing to sell a good for and the actual price they receive, reflecting the producer's benefit.

Crude Oil

A naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials used as a fuel and in the production of chemicals, plastics, and other materials.

Tariff

A tax imposed on imported goods and services to increase their price, protect domestic industries, or generate revenue.

Roses Imported

The total quantity or value of roses brought into a country from abroad for sale.