Bob Brain files a single tax return and decides to itemize his deductions. Bob's income for the year consists of $75,900 of salary, $2,550 long-term capital gain, and $1,950 interest income. Bob's expenses for the year consist of $900 in investment advice feesand $205 in tax return preparation fees. What is Bob's investment expense deduction?
A) $0.
B) 900.
C) 205.
D) 1,105.
E) None of the choices are correct.
Correct Answer:
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