Which, if any, of the following miscellaneous itemized deductions are not subjec
ID: 2432212 • Letter: W
Question
Which, if any, of the following miscellaneous itemized deductions are not subject to the 2 percent floor:
Work uniforms (not suitable for street wear).
Union dues.
Gambling losses to the extent of gambling gains.
Home office expenses of an employee (the employer provides a regular office).
None of the above.
a.Work uniforms (not suitable for street wear).
b.Union dues.
c.Gambling losses to the extent of gambling gains.
d.Home office expenses of an employee (the employer provides a regular office).
e.None of the above.
Explanation / Answer
Answer )-C) Gambling losses to the extent of gambling gains.
Note: Gambling losses to the extent of gambling gains can only be deducted as miscellaneous itemized deductions but it’s not subjected to 2% floor.
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