1. Gross income includes a. all income from whatever source derived unless excluded by lavw b. excluded income c. deferred income d. all realized income e. All of these 2. Mr. Freeze boug 2015. On December 15, 2016 he sold all 2,000 shares of his Klondike st a hot tip from his friend, he bought 2,000 s6,000. What is Mr. Freeze's recognized shares purchased in 2017? ht 2,000 shares of Klondike Corporation stock for $10,000 on January 2, ock for $9,000. Based on shares of Klondike stock on January 12, 2017 for loss on his 2016 sale and what is his basis in his 2,000 a. $-O- LTCL and $3,500 basis b. $-0-LTCL and $7,000 basis c. $900 LTCL and $6,000 basis d. $1,000 LTCL and $1,500 basis e. $1,000 LTCL and $6,000 basis 3. Which of the following is a true statement? a. Unreimbursed employee business expenses are deductible as miscellaneous itemized deductions b. Investment expenses can be deductible as for AGl deductions and from AGI deductions. c. Self-employed business deductions are one of the most common deductions for AG but they are not readily visible on the front of Form 1040 d. The distinction between business and investment activities is critical for determining whether a deduction is claimed above the line (for AGl) or below the line (itemized). e. All of these are true