Which of the following is a true statement?
A) Interest expense is not deductible if the loan is used to purchase municipal bonds.
B) Insurance premiums are not deductible if paid for "key man" life insurance.
C) One half of the cost of business meals is not deductible.
D) All of these are true.
E) None of these is truE.The deduction of each of the above expenditures is prohibited.
Correct Answer:
Verified
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