Which of the following is not deductible?
A)Moving expenses.
B)Tax return preparation fees.
C)Expenses incurred for the production of income.
D)Allowable hobby expenses in excess of hobby income.
E)None of the above.

Question

Quizplus · Accepted Answer

Allowable hobby expenses can only be deducted up to the amount of hobby income. Any excess cannot be deducted. Therefore, option D is not deductible.

Which of the Following Is Not Deductible