Trade and business expenses should be treated as:
A)A deduction from AGI subject to the 2%-of-AGI floor.
B)A deduction from AGI not subject to the 2%-of-AGI floor.
C)Deductible for AGI.
D)An itemized deduction if not reimbursed.
E)None of these.

Question

Quizplus · Accepted Answer

Trade and business expenses are typically deductible for AGI (Adjusted Gross Income), meaning they are subtracted from gross income to arrive at AGI.

Trade and Business Expenses Should Be Treated As