Which of the Following Statements Regarding Tax Deductions Is False

question 36

Multiple Choice

Which of the following statements regarding tax deductions is false?

• A)Taxpayers are not entitled to any deductions unless specific provisions in the tax code allow the deductions.
• B)Deductions can be labeled as deductions above the line or deductions below the line.
• C)From AGI deductions tend to be associated with business activities while for AGI deductions tend to be associated with personal activities.
• D)The standard deduction is a from AGI deduction.For AGI deductions tend to be associated with business activities and from AGI deductions tend to be associated with personal activities.

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Definitions:

Independent Contractors

Individuals who are in business for themselves, providing goods or services to another entity as a non-employee, typically on a contract basis.

Workforce

The collective group of individuals engaged in or available for work, either in a specific area or in a particular industry or occupation.

Advantages

Benefits or favorable traits that give something or someone a superior position or condition compared to others.

Respondeat Superior

A legal doctrine holding an employer or principal legally responsible for the wrongful acts of an employee or agent, if such acts occur within the scope of the employment or agency.