Cory incurred and paid the following expenses in 2019: Tax return preparation fee $ 600 Moving expenses 2,000 Investment expenses 500 Expenses associated with rental property 1,500 Interest expense associated with loan to finance tax-exempt bonds 400 Calculate the amount that Cory can deduct (before any percentage limitations).

$4,600

Explanation:

Given that,

Tax return preparation fee = $600

Moving expenses = $2,000

Investment expenses = $500

Expenses associated with rental property = $1,500

Interest expense associated with loan to finance tax-exempt bonds = $400

Total amount that Cory can deduct:

= Tax return preparation fee + Moving expenses + Investment Expenses + Expenses Associated with rental Property

= $600 + $2,000 + $500 + $1,500

= $4,600

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