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Alex files a tax return for the 2010 tax year. Hi...

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Alex files a tax return for the 2010 tax year. His adjusted gross income is $50,000. He had a net investment income of $9,000. In 2010, he had the following interest expenses. Personal credit card interest: $4,000 Home mortgage interest: $8,000 Investment interest (on loans used to buy stocks): $15,000 What is the interest deduction for Alex for the 2010 tax year?

 

Paper#7980 | Written in 18-Jul-2015

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