Trevor is an English professor at Clayton College. His adjusted gross income for the year is $58,000,

Question:

Trevor is an English professor at Clayton College. His adjusted gross income for the year is $58,000, including $5,000 he won at the racetrack. Trevor incurs the following during the year:
Investment advice .............. $550
Subscriptions to academic journals ....... 240
Dues to academic organizations ........ 275
Attorney fee for tax advice relating to his divorce . 325
Parking at the university ............ 100
Safe-deposit box ............... 75
Gambling losses ................ 450
Sport coats worn exclusively at work ....... 750

What is Trevor’s allowable miscellaneous itemized deduction?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Concepts In Federal Taxation

ISBN: 9780324379556

19th Edition

Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher

Question Posted: