14. Is the following statement correct regarding exclusions or deductions. A. an HSA contribution is a deduction from federal gross income. B. Federal tax deductions and exclusion from federal income taxes are the same thing. C. The taxpayer can exclude the amount paid for their individual life insurance premium. D. Qualified charitable contributions are allowable as an itemized deduction on the schedule A form

14. Is the following statement correct regarding exclusions or deductions. A. an HSA contribution is a deduction from federal gross income. B. Federal tax deductions and exclusion from federal income taxes are the same thing. C. The taxpayer can exclude the amount paid for their individual life insurance premium. D. Qualified charitable contributions are allowable as an itemized deduction on the schedule A form

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter5: Deductions For And From Agi

Section: Chapter Questions

Problem 33MCQ

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