Simon lost $5,000 gambling this year on a trip to Las Vegas. In addition, he paid $2,000

Question:

Simon lost $5,000 gambling this year on a trip to Las Vegas. In addition, he paid $2,000 to his for managing his $200,000 portfolio, and $1,500 to his accountant for preparing his tax return. In addition, Simon incurred $2,500 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's AGI is $200,000.
Broker
A broker is someone or something that acts as an intermediary third party, managing transactions between two other entities. A broker is a person or company authorized to buy and sell stocks or other investments. They are the ones responsible for...