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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Definitions:

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The statistical measure of the number of homicides (deliberate and unlawful killings) per unit of population within a specified time period, often per year and per 100,000 inhabitants.

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Regulations and standards established by government authorities to ensure residential buildings meet safety, health, and quality requirements.

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Individuals involved in social work and community service through settlement houses, which provided educational and social services to the poor in urban areas.

Jane Addams

A pioneering American social reformer and feminist known for founding Hull House in Chicago, which aimed to improve social conditions for the poor.