Hall paid the following expenses in 2017 pertaining to her home: realty taxes, $3,400; mortgage interest, $7,000; casualty insurance, $490; assessment by city for construction of a sewer system, $910; interest of $1,000 on a personal, unsecured bank loan, the proceeds of which were used for home improvements. Hall does not rent out any portion of the home. The casualty insurance premium of $490 is
a. Allowed as an itemized deduction subject to the $100 floor and the 10%-of-adjusted-gross-income floor.
b. Allowed as an itemized deduction subject to the 2%-of-gross-income floor.
c. Deductible in arriving at adjusted gross income.
d. Not deductible.
Ans: d. Not deductible.
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Identify one way public relations and consumer-generated marketing resemble each other
A) Firms rely heavily on creating advertising campaigns in traditional media outlets. B) Marketers hand over their promotional messages to intermediaries in order to reach the ultimate consumer. C) Companies have no tools with which to measure outcomes. D) Consumers are totally in control of message creation. E) Neither are elements in the promotional mix.
________ occurs when consumers assume a large part of the promotional function
A) Consumer activism B) Public relations C) Integrated marketing communication D) Consumer-generated marketing E) Brand management