All of the following are deductions from taxable income EXCEPT ________.
A) financial payments to a tax-deferred retirement plan
B) financial payments to charity
C) financial payments for personal clothing
D) financial payments for interest on mortgages
E) financial payments for medical expenses

Question

Quizplus · Accepted Answer

Financial payments for personal clothing cannot be deducted from taxable income, while financial payments to a tax-deferred retirement plan, financial payments to charity, financial payments for interest on mortgages, and financial payments for medical expenses can be deducted.

All of the Following Are Deductions from Taxable Income EXCEPT