Walter Pays a Financial Adviser $2,100 to Help Him Manage

Multiple Choice

Walter pays a financial adviser $2,100 to help him manage his investment portfolio during the current year.Walter receives $5,000 in interest from investments in General Motors and Xerox bonds,and $2,500 in interest from investments in City of San Francisco bonds.How much may Walter deduct for the current year?

A) $- 0 -
B) $ 700
C) $1,050
D) $1,400
E) $4,200