Which, if any, of the following is a deduction for AGI?
A) Contributions to a traditional Individual Retirement Account.
B) Child support payments.
C) Funeral expenses.
D) Loss on the sale of a personal residence.
E) Medical expenses.

Question

Quizplus · Accepted Answer

Contributions to a traditional Individual Retirement Account are deductible for AGI as they are considered to be a form of retirement savings. The deduction limit depends on factors such as the taxpayer’s age, tax-filing status, and income level.

Answer: B, C, E
 Child support payments, funeral expenses, and medical expenses are not deductible for AGI. However, they may be deductible as itemized deductions on Schedule A if they exceed a certain threshold amount. Loss on the sale of a personal residence may also be deducted, but as a deduction from AGI.

Which, If Any, of the Following Is a Deduction for AGI