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:

Working-Class Life

The everyday experiences, culture, and socio-economic conditions of individuals and families in the working class.

Immigrant Enclaves

Neighborhoods or areas densely populated by immigrants of similar cultural or national backgrounds, where they maintain cultural practices.

Exclusive

Intended for or restricted to the use of a particular group or class of people; not shared with others.

Violent Crime

Violent crime involves offenses that include force or threat of force, such as murder, rape, robbery, and assault, posing significant harm to individuals and communities.