Dale received $1,000 in 2016 for jury duty. In exchange for regular compensation from her employer during the period of jury service, Dale was required to remit the entire $1,000 to her employer in 2016. In Dale's 2016 income tax return, the $1,000 jury duty fee should be
a) Included in taxable income without a corresponding offset against other income.
b) Claimed in full as an itemized deduction.
c) Deducted from gross income in arriving at adjusted gross income.
d)Claimed as an itemized deduction to the extent exceeding 2% of adjusted gross income.
Ans: c) Deducted from gross income in arriving at adjusted gross income.
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The loss from the sale of equipment formerly used in the business.
a. positive effect on cash b. negative effect on cash
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