Question: While checking the computations on his Form 1040 Mr G

While checking the computations on his Form 1040, Mr. G realized he had misclassified a $10,800 expense as a business deduction on Schedule C. The expense should have been an itemized deduction on Schedule A. Mr. G didn’t correct the error be-cause he assumed the correction wouldn’t affect taxable income. Is this assumption correct?

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  • CreatedNovember 03, 2015
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