Vella owns and operates an illegal gambling establishment. in connection with this activity, he has the following expenses during the year: rent: $24,000 bribes: $40,000 travel expenses: $4,000 utilities: $18,000 wages: $230,000 payroll taxes: $13,800 property insurance: $1,600 illegal kickbacks: $22,000what are vella's total deductible expenses for tax purposes?

Brody and tanya recently sold some land they owned for $150,000. they received the land five years ago as a wedding gift from brody's aunt jeanette. she had already given them cash equal to the annual exclusion during that year. aunt jeanette purchased the land many years ago when the property was worth $20,000. at the time of the gift, the property was worth $100,000 and aunt jeanette paid $47,000 in gift tax. what is the long term capital gain on the sale of the property