February 28, 2017

Homework Help: tax

Posted by Andy on Wednesday, March 7, 2012 at 2:25pm.

For 2011, Jorge, a single father, reported the following amounts relating to his investments:

Net investment income from interest $7000

interest expense on a loan to purchase stock 2000

interest expense on funds borrowed in 2010 to purchase land for investment 6000

What is the maximum amount that Jorge can deduct in 2011 as investment interest expense?
A. $1,000
B. $2,000
C. $6,000
D. $7,000

is it D

Answer This Question

First Name:
School Subject:

Related Questions

More Related Questions