Question

8. Which of the following miscellaneous deductions are subject to the 2% of adjusted gross income...

8.

Which of the following miscellaneous deductions are subject to the 2% of adjusted gross income limitation for 2019?

Multiple Choice

  • Unreimbursed employee business expenses.

  • Investment counsel and advisory fees.

  • Safe deposit box fees.

  • None of these.

Business   Accounting   
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Homework Answers

Answer #1

Answer: Option i) Unreimbursed employee business expenses.

Explanation:

Miscellaneous deductions are deductions which are not fit into other categories of the tax code.

Deductions subject to the 2% limit, these deductions allow you to deduct from the amount of expense that is over 2% of adjusted gross income, or AGI.

miscellaneous deductions are subject to the 2% of adjusted gross income limitation for 2019 is unreimbursed employee business expenses.

Thus, Option i|) is correct and remaining options are incorrect.

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