Which of the following is not a "trade or business" expense?
A)Mortgage interest on a warehouse.
B)Depreciation on business equipment.
C)Mortgage interest on a personal residence.
D)Cost of goods sold.

Question

Quizplus · Accepted Answer

Mortgage interest on a personal residence is not a "trade or business" expense as it is related to the taxpayer's personal residence and not their business operations. The other options, including mortgage interest on a warehouse, depreciation on business equipment, and cost of goods sold, are all considered legitimate "trade or business" expenses.

Which of the Following Is Not a "Trade or Business