81. Joe incurred $38,000 of investment interest expense in the current year. He also generated $35,000 in
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81. Joe incurred $38,000 of investment interest expense in the current year. He also generated $35,000 in dividend income and had a $65,000 passive loss for the year. What is the amount of Joe’s interest deduction?
Partial list of research material: §163; Reg. §1.163-8T; Announcement 87-4, 1987-3 I.R.B. 17
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Federal Tax Research
ISBN: 9780324659658
8th Edition
Authors: William A. Raabe, Gerald E. Whittenburg, Debra L. Sanders
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