Which of the following items, if any, is deductible?
A)Parking expenses incurred in connection with jury duty-taxpayer is a dentist.
B)Substantiated gambling losses (not in excess of gambling winnings) from state lottery.
C)Contributions to mayor's reelection campaign.
D)Speeding ticket incurred while on business.
E)Premiums paid on personal life insurance policy.

Question

Quizplus · Accepted Answer

Gambling losses are deductible to the extent of gambling winnings. This means that if you have gambling winnings, you can deduct your losses up to the amount of your winnings on your tax return.

Which of the Following Items, If Any, Is Deductible