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How much can Mike deduct as investment expense

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Reference no: EM132925170

Question - Mike invests in California business ventures in 2017. In 2019, he makes $200 from these investments and incurs $300 in fees to his investment advidor. He takes his $200, buys a painting worth $350, and donates that painting to charity. The charity sells the painting to a museum for $900. How much can Mike deduct as investment expense in 2019.

a. $300

b. $200

c. $1,000

d. $0

Reference no: EM132925170

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