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29 Brandon and Jane Forte file a joint tax return and decide to itemize their deductions. The Fortes' income for the year consists of $120.300
29 Brandon and Jane Forte file a joint tax return and decide to itemize their deductions. The Fortes' income for the year consists of $120.300 in salary. $1,150 interest income, $1,650 nonqualifying dividends, and $1.400 long-term capital gains. The Fortes' expenses for the year consist of $3,150 in investment interest expense and $930 in tax preparation fees. Assuming that the Fortes' marginal tax rate is 32 percent and they make no special elections, what is the amount of investment interest expense deduction for the year? 2 points Multiple Choice 8 00:58:44 SO $1,150 O O $2,800 $3.150 . None of the choices are correct
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