Which of the following is deductible as a miscellaneous itemized deduction?
a. Incorrect. ATM fees on a personal bank account are not deductible as a miscellaneous itemized expense, even if the account is interest bearing.
b. Correct. If all funds in the Roth IRA account have been withdrawn and the taxpayer has no other accounts, the difference between the amount contributed and the amount withdrawn is a loss deductible as a miscellaneous itemized deduction subject to the 2% limit.
c. Incorrect. Campaign expenses for a candidate, as well as contributions to the campaign, are not deductible. This is so even for a candidate seeking reelection.
d. Incorrect. Commuting expenses, such as subway fare to and from work, are not deductible.