Clay incurs $5,000 of investment expenses related to purchasing Renco Company stock and New Orleans municipal bonds.He receives $6,000 of dividends on the stock and $14,000 of interest on the bonds.The amount of investment expense Clay can deduct is:
A)$- 0 -
B)$1,500
C)$2,500
D)$3,500
E)$5,000

Question

Quizplus · Accepted Answer

Investment expenses are not deductible for individual taxpayers.

Clay Incurs $5,000 of Investment Expenses Related to Purchasing Renco