Mike and Sally Card file a joint return for the 2019 tax year. Their adjusted gross income
Question:
Mike and Sally Card file a joint return for the 2019 tax year. Their adjusted gross income is
$65,000 and they incur the following interest expenses:
Investment income and related expenses amount to $7,000 and $500, respectively.
What is Mike and Sally’s interest deduction for the 2019 tax year?
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Related Book For 
CCH Federal Taxation Basic Principles 2020
ISBN: 9780808051787
2020 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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