Simon lost $9,850 gambling this year on a trip to Las Vegas. In addition, he paid $2,660
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Simon lost $9,850 gambling this year on a trip to Las Vegas. In addition, he paid $2,660 to his broker for managing his $266,000 portfolio and $1,055 to his accountant for preparing his tax return. In addition, Simon incurred $2,880 in transportation costs commuting back and forth from his home to his employer's office, which were not reimbursed. Calculate the amount of these expenses that Simon is able to deduct, assuming he itemizes his deductions, in each of the following situations: |
a. | Simon's AGI is $40,000. |
b. | Simon |
Related Book For
Taxation Of Individuals And Business Entities 2015
ISBN: 9780077862367
6th Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
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