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.

---

Definitions:

Principled Dissent

The act of expressing disagreement or opposition based on ethical, moral, or professional principles.

Rational Persuasion

The use of logical arguments and factual evidence to convince someone to accept a viewpoint or undertake a course of action.

Rational Persuasion

A method of influence based on the use of logical arguments and factual evidence.

Consultation

The process of seeking advice or expertise from others, typically within a professional setting.