Which of the following is not a "trade or business" expense?
A) Interest on business indebtedness.
B) Property taxes on business property.
C) Parking ticket paid on business auto.
D) Depreciation on business property.
E) All of the above are "trade or business" expenses.

Question

Quizplus · Accepted Answer

While interest on business indebtedness, property taxes on business property, and depreciation on business property are all considered "trade or business" expenses, a parking ticket paid on a business auto is not directly related to the operation or production of income for the business and therefore cannot be considered a legitimate "trade or business" expense.

Which of the Following Is Not a "Trade or Business