24. Fred's employer dispatched him on a business trip from the Dallas headquarters to New York this year. During the trip Fred incurred the following unreimbursed expenses:

Air fare	$1,490
Lodging	940
Meals	790
Cab fare	410

What is the amount of Fred's deduction before the application of any AGI limitations?

Multiple Choice

$2,430.

$3,235.

$3,630.

$1,490.

$0 - the expenses cannot be deducted unless Fred is reimbursed.

25. Bob Brain files a single tax return and decides to itemize his deductions. Bob's income for the year consists of $75,400 of salary, $2,800 long-term capital gain, and $1,700 interest income. Bob's expenses for the year consists of $760 investment advice fees, $680 unreimbursed employee business expenses (a miscellaneous itemized deduction), and $230 tax return preparation fees. What is Bob's actual deduction for miscellaneous itemized deductions?

Multiple Choice

None of the choices are correct.

$1,440.

$1,670.

Zero; Bob's investment expenses do not exceed two percent of AGI floor.

$1,598.