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Are any of the following expenditures deductible on an individual taxpayer’s income tax return? Explain each...

  1. Are any of the following expenditures deductible on an individual taxpayer’s income tax return? Explain each item.

Expenditure                                                              Amount

Cost of having income tax return prepared by a CPA                                 $100

Legal fee for divorce proceeding of which 20 percent related to tax planning advice       3,000

Lost wages for time missed from work while having income tax return prepared           250

Legal fee for estate planning advice of which 35 percent related to tax planning advice      900

Cost of having federal gift tax return prepared by a CPA                               100

Total expenditures                                                          $4,350

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