Which of the following expenses, if any qualify as deductible in 2018? a. Contribution to a...
Which of the following expenses, if any qualify as deductible in 2018? a. Contribution to a Roth IRA. b. Costs involved in maintaining an office in the home by a self-employed insurance adjuster. Taxpayer's wife also uses the office as a meeting place for her bridge club.c. Cost of moving to first job location. Taxpayer just graduated from college. d. Job hunting expenses of a fishing guide to become an insurance salesman. e. None of the above. (The answer IS NOT b).
Homework Answers
Answer:
a. Contribution to a Roth IRA. Not deductible. Traditional IRA will be deductible. Incorrect.
Correct answer (b). Costs involved in maintaining an office in the home by a self-employed insurance adjuster. Taxpayer's wife also uses the office as a meeting place for her bridge club.
c. Cost of moving to first job location. Taxpayer just graduated from college. Has been eliminated from 2018. Incorrect.
d. Job hunting expenses of a fishing guide to become an insurance salesman. Is not deductible. Incorrect.
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Which of the following expenses, if any qualify as deductible in
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