Answered: Section 529 college savings plans are… | bartleby

CONCEPTS IN FED.TAX.,2020-W/ACCESS

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter6: Business Expenses

Section: Chapter Questions

Problem 51P

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Question

100%

Section 529 college savings plans are state-sponsored.
True
Question 2
oo
False
Qualifying contributions to personal retirement accounts are subtracted as
oooo
adjustments to income
itemized deductions
exclusions
tax credits
Question 3
Which of the following types of taxes is deductible for federal income tax purposes?
Federal income taxes
Real estate property taxes
Federal Social Security taxes
Federal excise taxes on tires

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