Chapter 6 Objective Questions 1-15 - Chapter 6 Objective Questions 1-15 1 All business expense deductions are claimed as itemized deductions True

Chapter 6 Objective Questions 1-15 - Chapter 6...

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Chapter 6 Objective Questions 1-15 1. All business expense deductions are claimed as itemized deductions. True or False TrueExplanationBusiness expenses are generally for AGI deductions, if they are deductible. 2.Self employed taxpayers can deduct the cost of health insurance as long as they are not eligible to participate in their spouses’ employer-provided health plan. 3.Self employed taxpayers can choose between claiming the employer portion of self employment taxes paid as an itemized deduction or a deduction for AGI. 4.The objective of the medical expense deduction is to reduce the after-tax cost of medical treatment for all taxpayers, even for those taxpayers with little medical expense.
5.Taxpayers traveling for the primary purpose of receiving essential and deductible medical care can deduct the cost of travel. True or False FalseExplanationMedical travel is deductible if there is no recreational purpose.

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