What expenditures not allowed as trade or business deduction


Question: Which of the following expenditures would not be allowed as a trade or business deduction? If more than one would not be allowed, select either answer D or E. A. A speeding ticket B. An expense incurred while operating an illegal gambling business C. A government imposed penalty D. Neither item A nor C would be allowed E. None of the items would be allowed

 

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Accounting Basics: What expenditures not allowed as trade or business deduction
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