Bob Brain Files a Single Tax Return and Decides to Itemize

question 80

Multiple Choice

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 in investment advice feesand $155 in tax return preparation fees. What is Bob's investment expense deduction?

• A)$0.
• B)890.
• C)155.
• D)1,045.
• E)None of the choices are correct.

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Definitions:

Psychotherapies

A variety of therapeutic techniques utilized to improve an individual's mental health and alleviate psychological disorders by speaking with a therapist.

Bipolar II Disorder

A type of bipolar disorder marked by mild manic (hypomanic) and major depressive episodes.

Bipolar I Disorder

A type of bipolar disorder marked by full manic and major depressive episodes.

Cyclothymic Disorder

A disorder marked by numerous periods of hypomanic symptoms and mild depressive symptoms.