The cost of an appraisal of a painting may be deducted, subject to the 2% of adjusted gross income imitation, if the purpose of the appraisal is related to the preparation of an income tax return.

Question

The cost of an appraisal of a painting may be deducted, subject to the 2% of adjusted gross income imitation, if the purpose of the appraisal is related to the preparation of an income tax return.
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Quizplus · Accepted Answer

The cost of an appraisal of a painting may be deducted if it is related to the preparation of an income tax return, subject to the 2% of adjusted gross income limitation.

The Cost of an Appraisal of a Painting May Be