Bob Brain files a single tax return and decides to itemize his deductions. Bob's Income for the year consists of $75,500 of salary, $2,750 long-term capital gain, and $1,750 Interest Income. Bob's expenses for the year consist of $750 In Investment advice fees and $225 In tax return preparation fees. What is Bob's Investment expense deduction? Multiple Choice SO. O 750. O 225 O 975. None of the choices are correct Bonnie Jo purchased a used camera (five-year property) for use in her sole proprietorship. The basis of the camera was $3,400. Bonnie Jo used the camera in her business 70 percent of the time and used it for personal purposes the rest of the time during the first year. Calculate Bonnie Jo's depreciation deduction during the first year, assuming the sole proprietorship had a loss during the year. (Bonnie did not place the property in service in the last quarter.) (Use MACRS Table 1.) Multiple Choice O $340 O $476 O $680 O $3,400 O None of the choices are correct. Shelley is self-employed In Texas and recently attended a two-day business conference in New Jersey. After Shelley attended the conference, she had dinner with an old friend who lived nearby. Shelley documented her expenditures (described below). What amount can Shelley deduct? Airfare to New Jersey Meals at the conference Meal with an old friend Lodging in New Jersey Rental car $ 2,040 224 124 446 184 Multiple Choice O All of these expenses are deductible but only if Shelley attends a conference in Texas. $1,874, if Shelley itemizes the deductions $2.782 O $2.894 None of the expenses are deductible because Shelley visited her friend. O Lightshot Screenshot is saved to Screenshot_2.png Click here to open in the folder. Persephone has a regular tax liability of $14,375 and a tentative minimum tax of $11,690. Given just this Information, what is her alternative minimum tax liability for the year? Multiple Choice $2.685 O $11,690 O O SO O $14,375