a. Explain what Rev. Rul. allows taxpayers to deduct interest forfeited as a penalty on the premature withdrawal from a certificate of deposit.

b. Frank paid $3,700 in fees for an accountant to tabulate business information (Frank operates as a self-employed contractor and files a Schedule C). The accountant also spent time tabulating Franks income from his investments and determining Franks personal itemized deductions. Explain to Frank whether or not he can deduct the $3,700 as a business expense or as an itemized deduction. Provide cites to your answers.