QUESTION 16 24 points ollowing expenses this year. Which of the expenses are Eli is a single self employed contractor who earn 160,000 per year in self employmer deductible for AGI? 1. The cost of health insurance 2. The cost of business office supplies expense 3. Alimony paid (divorced in 2013) All of these are deductible for AGI Numbers 1 and 3 only Numbers 1 and 2 only Numbers 2 and 3 only None of these is deductible for AGI QUESTION 17 2.94 points Louise likes a bargain and loves to shop and has found it very difficult to repay her loans and credit card debt. Because of these difficulties, the bank decided to forgive one of her most recent loans, an amount of $70,000. After the loan was discharged, Louise had total assets of $250.000 and her remaining loans total $175.000. What amount must Louise include in her gross income? $70,000 $25,000 Zero - Louise was not solvent when the loan was discharged $50,000 575.000 Click Save and Submit to and it. Chick Save A s ansur. Question Completion Status: QUESTION 18 When the wash sale rules apply the realized loss is: not recognized at time of sale and subtracted from the basis of the newly acquired stock recognized at time of sale and added to basis of the newly acquired stock not recognized at time of sale and added to basis of the newly acquired stock recognized at time of sale not recognized at time of sale and does not affect basis of newly acquired stock QUESTION 19 The maximum amount of net capital losses individuals may deduct against their ordinary income per year is: Zero, losses are not deductible There is no maximum. A losses are allowed to be deducted "55.000 $3.000 None of these is true QUESTION 20 Click Save and Submit and with San to