Which of the Following Miscellaneous Itemized Deductions Is Not Subject

question 13

Multiple Choice

Which of the following miscellaneous itemized deductions is not subject to the 2% of adjusted gross income limitation?

• A)Tax return preparation fees.
• B)Gambling losses up to the amount of gambling winnings.
• C)Unreimbursed employee business expenses.
• D)Union or professional dues and subscriptions.

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Definitions:

Money Income

The total amount of monetary earnings or receipts a person or household receives within a specific period.

Utility-Maximizing

The behavior or principle where individuals or entities choose options that increase their satisfaction or utility to the greatest extent.

Marginal Utility

The additional satisfaction gained from consuming an additional unit of a good or service.

Hypothetical Consumer

A theoretical or model consumer whose purchasing decisions and behavior are used to analyze the demand side of the market.