Question: Izzy ran into a cash shortfall and had to cash in a certificate of deposit early. She incurred a $ 5 0 penalty for early

Izzy ran into a cash shortfall and had to cash in a certificate of deposit early. She incurred a $50 penalty for early withdrawal. As a result, Izzy Blank______.
Multiple choice question.
cannot deduct the $50 penalty because penalties are nondeductible
can only deduct the $50 as an investment expense if she itemizes deductions
can deduct the $50 from any interest income reported for tax purposes
can deduct the $50 as a "for" AGI deduction

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