Which,if Any,of the Following Is a Deduction for AGI

question 124

Multiple Choice

Which,if any,of the following is a deduction for AGI?

• A)Alimony payments.
• B)Interest on home mortgage.
• C)Unreimbursed employee expenses.
• D)Charitable contributions.
• E)None of the above.

---

Definitions:

Sole Proprietor

A business owned and operated by a single individual, with no legal distinction between the owner and the business entity.

Deduct Business Losses

The process of reducing taxable income by the amount of losses incurred by a business during a financial period.

Charging-Order Creditor

A creditor's legal right to attach a debtor's interest in an LLC or partnership, as a means to satisfy the debtor's outstanding obligation.

Lien Creditor

A creditor who has a legal right or claim against a debtor's property as security for a debt or charge.