Appraisals are miscellaneous itemized deductions, which currently are not allowed. The only way that you...

80.2K

Verified Solution

Question

Accounting

Appraisals are miscellaneous itemized deductions, which currently are not allowed. The only way that you know how much a capital improvement has increased the value of your home is through an appraisal. Essentially a non-deductible appraisal is required to know the amount of the medical expense deduction. Do you think that there should be an exception to allow appraisals, when one is required to take a deduction? Why or why not?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students