Which of the following can be claimed as a deduction for AGI?
A)Personal casualty losses.
B)Investment interest expenses.
C)Medical expenses.
D)Property taxes on personal use real estate.
E)None of these.

Question

Quizplus · Accepted Answer

None of the options listed (A through D) can be claimed as a deduction for Adjusted Gross Income (AGI). Personal casualty losses, investment interest expenses, medical expenses, and property taxes on personal use real estate are typically itemized deductions, not deductions for AGI. Deductions for AGI, also known as "above-the-line" deductions, are specific expenses that can be deducted from gross income to arrive at AGI and are available regardless of whether a taxpayer itemizes deductions.

Which of the Following Can Be Claimed as a Deduction