Multiple Choice
Which one of the following is not true of itemized deductions of an individual taxpayer?
A) Any deductions other than personal and dependency exemptions and those for adjusted gross income are itemized deductions.
B) Itemized deductions are deductible only if they exceed a taxpayer's standard deduction.
C) Residential interest is a common example of an itemized deduction.
D) All employee trade or business expenses are itemized deductions.
Correct Answer:
Verified
Correct Answer:
Verified
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