28. Brandon and Jane Forte file a joint tax return and decide to itemize their deductions. The Forte's income for the year consists of $119,000 in salary, $500 interest income, $1,000 nonqualifying dividends, and $500 long-term capital gains. The Forte's expenses for the year consist of $2,500 investment interest expense and $800 tax preparation fees. Assuming that the Forte's marginal tax rate is 30% and they make no special elections, what is the amount of investment interest expense deduction for the year?

Multiple Choice

Zero; investment interest expense is below two percent of AGI.

None of the choices are correct.

$1,500.

$500.

$2,500.