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Bob Brain Files a Single Tax Return and Decides to Itemize

Question 61

Multiple Choice

Bob Brain files a single tax return and decides to itemize his deductions. Bob's income for the year consists of $75,000 of salary, $3,000 long-term capital gain, and $1,500 interest income. Bob's expenses for the year consist of $800 in investment advice feesand $250 in tax return preparation fees. What is Bob's investment expense deduction?


A) $0.
B) $800.
C) $250.
D) $1,050.
E) None of the choices are correct.

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