Which of the following is a true statement?
A)Employees cannot claim business expense deductions.
B)Employees can claim business expense deductions for AGI.
C)Employees can claim business expense deductions as miscellaneous itemized deductions not subject to the 2 percent of AGI limitation.
D)Employees can claim business expense deductions as miscellaneous itemized deductions subject to the 2 percent of AGI limitation.
E)None of these is truE.Employee business expense deductions are miscellaneous itemized deductions subject to the 2 percent of AGI limitation.

Question

Quizplus · Accepted Answer

Employees can claim business expense deductions as miscellaneous itemized deductions subject to the 2 percent of AGI limitation. This means that the total amount of miscellaneous itemized deductions (including employee business expenses) must exceed 2 percent of the taxpayer's adjusted gross income before any deduction is allowed.

Which of the Following Is a True Statement