Which of the following is a deductible California expense subject to a 2% of adjusted gross income limitation? Adoption-related expense. Casualty and theft losses. Gambling losses. Tax preparation fees.
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Which of the following is a deductible California expense subject to a 2% of adjusted gross income limitation? Adoption-related expense. Casualty and theft losses. Gambling losses. Tax preparation fees.
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- Which of the following taxes is not deductible as an itemized deduction? a.Sales tax in a state with no income tax b.State income tax c.Federal income tax d.Property tax on second residenceWhich of the following types of expenses is deductible? Group of answer choices A.Bribes & Illegal Kickbacks B.Expenses related to Tax-Exempt Income C.Political Contributions D.Contingency Attorney Fees3. Choosing the standard deduction or itemized deductions The IRS allows you to reduce your adjusted gross income by either the amount of your standard deduction based on your filing status, or by the sum of your Itemized deductions. The following statement refers to deductions from adjusted gross income. The government estimates a likely amount of tax-deductible expenses for each filing status to determine the The U.S. Individual Income Tax Return (Form 1040) Schedule A lists six areas of itemized deductions. Which of the following can be included in Itemized deductions? Check all that apply. Interest you paid O Casualty and theft losses not paid by insurance ORetirement plan contributions DUnemployment compensation O Medical and dental expenses not paid by insurance in excess of 10% of adjusted gross income
- Which one of the following is not deductible when itemizing a, State income tax b, Real property tax c, Cigarette tax d, None of theseWhat makes the refund of state taxes taxable on the federal tax return? a. moving to Texas before your refund gets sent to you b. paying state taxes the year before and getting a refund c. claiming taxes as an itemized deduction and using standard deduction d. claiming taxes as an itemized deduction and itemizingWhich of the following forms is not required to be sent with California income tax returns? A. Form 1099-NEC - Nonemployee Compensation B. Form 540 2EZ - California Resident Income Tax Return C. Schedule CA - California Adjustments - Residents D. Schedule G-1 - Tax on Lump-Sum Distributions
