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5. If Ginny files a single tax return and decides to itemize her deductions, what is the amount of her investment interest expense deduction for
5. If Ginny files a single tax return and decides to itemize her deductions, what is the amount of her investment interest expense deduction for the year? Her income for the year consists of $60,000 in salary, $2,000 interest income, $500 in nonqualified dividends, $800 long-term capital loss. Jennys expenses for the year consist of $3,000 investment interest expense. Assume that the Ginny's marginal tax rate is 35%.
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