Please do no cheat the previous answer, this was not correct, The Trump tax changes (i.e., the TCJA) allows deductions (either as a FOR or FROM AGI Deduction) for all of the following except:Multiple ChoiceAll of these are allowed deductions under the TCJACasualty losses on personal use assets in a Presidentially-Declared Disaster Area.Unreimbursed employee business expenses.Penalties for the early withdrawal of savings.Gambling losses

Tax is an amount charged by the government from the organization and the individual on the income…

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Please do no cheat the previous answer, this was not correct,

The Trump tax changes (i.e., the TCJA) allows deductions (either as a FOR or FROM AGI Deduction) for all of the following except:

Multiple Choice

All of these are allowed deductions under the TCJA
Casualty losses on personal use assets in a Presidentially-Declared Disaster Area.
Unreimbursed employee business expenses.
Penalties for the early withdrawal of savings.
Gambling losses

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