Simon lost 6500 gambling this year on a trip to las vegas, Ask an Expert

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Simon lost $6.500 gambling this year on a trip to Las Vegas. In addition, he paid $2.570 to his broker for managing his $257.000 portfolio and $1, 115 to his accountant for preparing his tax return.

In addition, Simon incurred $2.850 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:

Simon's AGI is $40.000.

Simon's AGI is $200.000.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92822619

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