true or false

2. Finance charges on personal credit cards are deductible interest expense as an i 26. Subject to net equity and dollar oject to net equity and dollar limitations, a taxpayer may deduct interest on a home equity loan, secured by the residence, used to purchase an automobile. 27. For charitable contribution purposes, capite produce a long-term capital gain. ble contribution purposes, capital gain property includes property which, if sold, would An individual makes substantial cash contributions to public charities. He will be able to deduct these contribution up to a ceiling of 50% of AGI. The qualified business income deduction is only available to owners of businesses operated in a form other than the C corporation form. 30. I am really sad this is the last true/false question to be experienced in Tax Accounting