Which of the following are deductions for AGI?
A)Mortgage interest on a personal residence.
B)Property taxes on a personal residence.
C)Mortgage interest on a building used in a business.
D)Fines and penalties incurred in a trade or business.
E)None of these.

Question

Quizplus · Accepted Answer

Mortgage interest on a building used in a business is deductible for AGI because it is considered a business expense. A and B are itemized deductions, not for AGI, and D is not deductible at all.

Which of the Following Are Deductions for AGI