in current year Julia earns $3,000 in net investment income and incurs$14,000 of investment interest expense....
in current year Julia earns $3,000 in net investment income and incurs$14,000 of investment interest expense. what is the amount of investment interest expense deductible this year?
Homework Answers
Amount of investment interest expense deductible this year = $3000
Notes
The maximum amount of interest expense deductible will be only upto the maximum limit of investment income. Since Julia has earned $3000 interest expense can be deducted only till $3000.
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