Acc 317 quiz 2 - Study guides, Class notes & Summaries
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ACC 317 QUIZ 2 QUESTIONS AND ANSWERS 2024
- Exam (elaborations) • 15 pages • 2024
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itemized deductions (5) (Chapter 6) 
- Medical expenses (in excess of 7.5% of AGI) 
 
- Certain state and local taxes and real estate and ad valorem personal property taxes (capped at $10,000) 
 
- Contributions to qualified charitable organizations 
 
- Mortgage interest on a personal residence 
 
- Investment interest expense (not other investment expenses such as safe deposit box) (Barrowed money to make an investment you can deduct the interest on that loan) 
 
 
 
Flow-through entities dedu...
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