TIPL ion. E CHoICE. Choose the one alternative that best completes the statement or answers the 9) Lebron received $50,000 of compensation from his employer and he received $400 of 9) interest from a municipal bond. What is the amount of Lebron's gross income from these items? A) $50,000. B) SO. C) $50,400. D) $400. 10) Which of the following statements regarding tax deductions is false? A) From AGI deductions tend to be associated with business activities while for AGI deductions tend to be associated with personal activities. B) The standard deduction is a from AGI deduction. C) Taxpayers are not entitled to any deductions unless specific provisions in the tax code allow the deductions. D) Deductions can be labeled as deductions above the line or deductions below the line. 11) Which of the following statements regarding for AGI tax deductions is true? A) A taxpayer may deduct for AGI deductions only if the deductions exceed the taxpayer's itemized deductions. B) Taxpayers subtract for AGI deductions from gross income to determine AGI C) The deduction for qualified business income is a for AGI deduction. D) A taxpayer may deduct for AGI deductions only if the deductions exceed the taxpayer's standard deduction amount. 12) Which of the following is NOT a from AGI deduction? 12) A) Standard deduction. B) Deduction for qualified business income. C) Itemized deduction. D) None of these. All of these are from AGI deductions. 13) Which of the following is not an itemized deduction? 13) A) Medical expenses. C) Alimony paid. B) Charitable contributions. D) Real estate taxes. 14) Which of the following types of income are not considered ordinary income? 14) A) Both net long-term capital gains (in excess of short-term capital losses) and qualified dividend income. B) Qualified dividend income. C) Both compensation income and qualified dividend income. D) Compensation income. E) Net long-term capital gains (in excess of short-term capital losses)