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Sacha, a dentist, has significant investment assets. She holds corporate bonds, municipal bonds, stocks and mutual funds. Sacha paid $1,500 to an investment adviser to
Sacha, a dentist, has significant investment assets. She holds corporate bonds, municipal bonds, stocks and mutual funds. Sacha paid $1,500 to an investment adviser to conduct a portfolio review and to prepare a recommendation for rebalancing her portfolio. Which of the following statements is correct regarding the tax treatment of the $1,500 fee?
A)
Part of the $1,500 fee will be disallowed due to the holding of the municipal bonds.
B)
Sacha can include the full fee as an investment-related expense in her miscellaneous itemized deductions.
C)
The $1,500 fee is not deductible.
D)
Sacha can include the full fee as an investment-related expense in her "for AGI" deductionsStep by Step Solution
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