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Simon lost $9,950 gambling this year on a trip to Las Vegas. In addition, he paid $2,170 to his broker for managing his $217,000 portfolio
Simon lost $9,950 gambling this year on a trip to Las Vegas. In addition, he paid $2,170 to his broker for managing his $217,000 portfolio and $1,495 to his accountant for preparing his tax return. In addition, Simon incurred $3,290 in transportation costs commuting back and forth from his home to his employer's office, which were not reimbursed. Calculate the amount of these expenses that Simon is able to deduct (assuming he itemizes his deductions).
What is the deductible amount?
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