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The Chen Trust incurred the following items during the year. Taxable interest received $40,000 Tax-exempt interest received 60,000 Tax preparation fees paid 5,000 What is
The Chen Trust incurred the following items during the year.
Taxable interest received | $40,000 |
Tax-exempt interest received | 60,000 |
Tax preparation fees paid | 5,000 |
What is Chens deduction for the tax preparation fees?
a. | $5,000 | |
b. | $0 | |
c. | $3,000 | |
d. | $2,000 |
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