Bob Brain files a single tax return and decides to itemize his deductions. Bob's income for the year consists of $74,700 of salary, $3,150 long-term capital gain, and $2,150 interest income. Bob's expenses for the year consist of $830 in investment advice fees and $185 in tax return preparation fees. What is Bob's investment expense deduction? $0 $830 $185 O $1,015 O None of the choices are correct.
Bob Brain files a single tax return and decides to itemize his deductions. Bob's income for the year consists of $74,700 of salary, $3,150 long-term capital gain, and $2,150 interest income. Bob's expenses for the year consist of $830 in investment advice fees and $185 in tax return preparation fees. What is Bob's investment expense deduction? $0 $830 $185 O $1,015 O None of the choices are correct.
Chapter10: Deduct Ions And Losses: Certain Itemized Deduct Ions
Section: Chapter Questions
Problem 2BCRQ
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Transcribed Image Text:Bob Brain files a single tax return and decides to itemize his deductions. Bob's income for the year consists of $74,700 of salary, $3,150 long-term
capital gain, and $2,150 interest income. Bob's expenses for the year consist of $830 in investment advice fees and $185 in tax return preparation
fees. What is Bob's investment expense deduction?
$0
$830
$185
O $1,015
O None of the choices are correct.
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