Which of the following may not form part of the regular itemized deductions from the gross income? Allowance for depreciation under cash basis Repairs and maintenance Community tax Losses NOLCO None of the above Foreign income tax claimed as tax credit Excise tax Documentary stamp tax
Which of the following may not form part of the regular itemized deductions from the gross income? Allowance for depreciation under cash basis Repairs and maintenance Community tax Losses NOLCO None of the above Foreign income tax claimed as tax credit Excise tax Documentary stamp tax
Chapter5: Deductions For And From Agi
Section: Chapter Questions
Problem 20MCQ
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Question
Which of the following may not form part of the regular itemized deductions from the gross income?
- Allowance for
depreciation under cash basis - Repairs and maintenance
- Community tax
- Losses
- NOLCO
- None of the above
- Foreign income tax claimed as tax credit
- Excise tax
- Documentary stamp tax
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