Which of the Following CANNOT Be Subtracted from Gross Income

question 34

Multiple Choice

Which of the following CANNOT be subtracted from gross income as a deduction?

• A) contributions to retirement savings accounts
• B) reimbursed employee expenses
• C) contributions to health savings accounts
• D) interest paid on student loans

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Definitions:

Mens Rea

The legal principle referring to the mental state of knowledge, intent, or recklessness that constitutes part of a crime.

Mail Fraud Statute

refers to a law that provides federal jurisdiction for cases involving fraudulent activities that utilize the postal system as a means to commit the fraud.

Corporate Liability

The legal obligation of a corporation to pay for damages, fines, or penalties arising from its actions or those of its employees.

Sixth Amendment

An amendment to the U.S. Constitution that guarantees rights to a fair and speedy trial, the right to a lawyer, and the right to an impartial jury.