Which of the following requirements does not have to be met for a business or investment expense to be deductible:
A)Be ordinary and necessary.
B)Be reasonable in amount.
C)Be recurring.
D)Be the taxpayer's own expense.
E)All of the above must be met.

Question

Quizplus · Accepted Answer

For a business or investment expense to be deductible, it does not have to be recurring. The key requirements include being ordinary and necessary, reasonable in amount, and the taxpayer's own expense.

Which of the Following Requirements Does Not Have to Be