Which of the following cannot be deducted as a § 162 business expense?
A)Expenses of investing in rental property.
B)Charitable contributions made by a sole proprietorship.
C)Fines and penalties.
D)Only a.and c.cannot.
E)a., b., and c.cannot.

Question

Quizplus · Accepted Answer

Expenses related to investing in rental property are not considered a deductible expense under § 162. Charitable contributions made by a sole proprietorship are not deductible as a business expense but can be deducted on the individual tax return. Fines and penalties are also not deductible under § 162.

Which of the Following Cannot Be Deducted as a §