Which of the following is a true statement?
A) Employees can claim business expense deductions as miscellaneous itemized deductions not subject to the 2 percent of AGI limitation.
B) Employees cannot claim business expense deductions.
C) Employees can claim business expense deductions for AGI.
D) Employees can claim business expense deductions as miscellaneous itemized deductions subject to the 2 percent of AGI limitation.
E) None of the choices are true.

Question

Quizplus · Accepted Answer

Employees can claim business expense deductions as miscellaneous itemized deductions subject to the 2 percent of AGI limitation. This means that the total amount of miscellaneous itemized deductions must exceed 2% of the employee's adjusted gross income (AGI) before any deduction can be claimed. However, the Tax Cuts and Jobs Act of 2017 eliminated miscellaneous itemized deductions for tax years 2018 through 2025, so employees cannot claim these deductions during those years.

Which of the Following Is a True Statement