Question

Does Courtney gain any tax benefit from the 500 she paid to the financial planner (her AGI is162,000)?

1) Yes
2) No

Answer 1

No, Courtney does not gain any tax benefit from the $500 she paid to the financial planner.

Step-by-step explanation:

No, Courtney does not gain any tax benefit from the $500 she paid to the financial planner. The tax benefit for paid services to a financial planner depends on whether the expenses are considered deductible or not.

In this case, the payment to the financial planner is not deductible because it does not fall under any of the deductible categories such as investment expenses or tax preparation fees.