Bob Brain files a single tax return and decides to itemize his deductions. Bob's income for the year consists of $74,100 of salary, $3,450 long-term capital gain, and $2,450 interest income. Bob's expenses for the year consists of $890 investment advice fees and $155 tax return preparation fees. What is Bob's investment expense deduction? Multiple Choice O O O Zero. 890. 155. 1.045. 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 $74,100 of salary, $3,450 long-term capital gain, and $2,450 interest income. Bob's expenses for the year consists of $890 investment advice fees and $155 tax return preparation fees. What is Bob's investment expense deduction? Multiple Choice O O O Zero. 890. 155. 1.045. None of the choices are correct.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Plz answer without plagiarism please i give up vote 2
Transcribed Image Text:**Understanding Investment Expense Deductions**
Bob Brain files a single tax return and decides to itemize his deductions. Bob's income for the year consists of $74,100 of salary, $3,450 long-term capital gain, and $2,450 interest income. Bob's expenses for the year consist of $890 investment advice fees and $155 tax return preparation fees.
**Question:**
What is Bob's investment expense deduction?
**Multiple Choice Options:**
- ○ Zero.
- ○ 890.
- ○ 155.
- ○ 1,045.
- ○ None of the choices are correct.
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