Simon lost 5300 gambling this year on a trip to las vegas


Simon lost $5,300 gambling this year on a trip to Las Vegas. In addition, he paid $2,970 to his broker for managing his $297,000 portfolio and $890 to his accountant for preparing his tax return. In addition, Simon incurred $3,140 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: (Leave no answer blank. Enter zero if applicable.)

a. Simon's AGI is $38,400

Deductible Amount =

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Financial Accounting: Simon lost 5300 gambling this year on a trip to las vegas
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