Which of the following may be deductible in 2019?
A)Bribes that relate to a U.S.business.
B)Fines paid for violations of the law.
C)Interest on a loan used in a hobby.
D)All of these.
E)None of these.

Question

Quizplus · Accepted Answer

Bribes and fines paid for violations of the law are not deductible for tax purposes as they are against public policy. Interest on a loan used in a hobby is considered a personal expense and is not deductible.

Which of the Following May Be Deductible in 2019