Brain files a single tax return and decides to itemize his


Question - Brain files a single tax return and decides to itemize his deductions. Bob's income for the year consists of $75000 of salary, $3000 long term capital gain and $1500 interest income. Bob's expenses for the year consists of $800 investment advice fees, $700 unreimbursed employee business expenses (a miscellaneous) and $250 tax return preparation fees. What is Bob's actual deduction for miscellaneous itemized deductions?

Solution Preview :

Prepared by a verified Expert
Accounting Basics: Brain files a single tax return and decides to itemize his
Reference No:- TGS02627230

Now Priced at $20 (50% Discount)

Recommended (98%)

Rated (4.3/5)