1. For 2015, the deduction by a taxpayer for investment interest expense is a. Not limited. b....

Question:

1. For 2015, the deduction by a taxpayer for investment interest expense is
a. Not limited.
b. Limited to the taxpayer's net investment income for 2015.
c. Limited to the investment interest paid in 2015.
d. Limited to the taxpayer's gross investment income for 2015.
2. For 2015 Thomas, a single parent, reported the following amounts relating to his investments:
Net investment income................................................................$7,000
Interest expense on a loan to purchase expense on funds borrowed in 2014 to purchase land for investment.6,000
What is the maximum amount that Thomas can deduct in 2015 as investment interest expense?
a. $1,000
b. $2,000
c. $6,000
d. $7,000
Stocks
Stocks or shares are generally equity instruments that provide the largest source of raising funds in any public or private listed company's. The instruments are issued on a stock exchange from where a large number of general public who are willing...