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Question 7 of 10
An example of an expenses that is not an allowable tax deductions is:
A. A hospital bill
OB. A donation to a charity
OC. An all inclusive vacation
OD. Home mortgage interest

Answer 1

All-inclusive vacations are not an example of expenses that are not allowable tax deductions.

What are the tax deductions allowed?

They correspond to a form of exemption and credit in taxation, such as interest on a home mortgage, unreimbursed healthcare costs and charitable donations.

Therefore, tax deductions contribute to a reduction in taxable income and in the amount of taxable tax.

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