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Which of the following statements is true? The exclusion for scholarships and fellowships applies only to undergraduate students. The ordinary, necessary, and reasonable expenses of

Which of the following statements is true?

The exclusion for scholarships and fellowships applies only to undergraduate students.

The ordinary, necessary, and reasonable expenses of a cocaine dealer are deductible.

Political c

ntributions are never deductible.

Lobbying expenses may be deductible.

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