Which one of the following is not true of itemized deductions of an individual taxpayer?
A)Any deductions other than personal and dependency exemptions and those for adjusted gross income are itemized deductions.
B)Itemized deductions are deductible only if they exceed a taxpayer's standard deduction.
C)Residential interest is a common example of an itemized deduction.
D)All employee trade or business expenses are itemized deductions.

Question

Quizplus · Accepted Answer

Employee trade or business expenses are no longer considered itemized deductions and are not deductible for tax years 2018-2025 due to changes in tax legislation (Tax Cuts and Jobs Act of 2017).

Which One of the Following Is Not True of Itemized