Which of the Following Miscellaneous Deductions Are Not Subject to the 2

question 98

Multiple Choice

Which of the following miscellaneous deductions are not subject to the 2 percent of adjusted gross income limitation?

• A)Unreimbursed employee business expenses
• B)Investment expenses
• C)Union dues
• D)Gambling losses to the extent of gambling winnings
• E)None of the above

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Definitions:

Calibrate

Calibrate means to adjust the precision of an instrument or tool to ensure its accuracy against a known standard.

Indirect Costs

The soft costs whose value can be estimated but not measured easily by financial expenditures.

Financial Expenditures

Expenses incurred by an organization in conducting its day-to-day operations.

Estimated

A calculated approximation or prediction of a future value or trend based on data or trends.