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.
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.
Get Answers For Free
Most questions answered within 1 hours.