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5-23 Interest (LO 5.8) Matthew borrows $250,000 to invest in bonds. During the current year, his interest on the loan is $30,000. Matthew's taxable interest
5-23 Interest (LO 5.8) Matthew borrows $250,000 to invest in bonds. During the current year, his interest on the loan is $30,000. Matthew's taxable interest income from the bonds is $10,000. This is Matthew's only investment income and he has no other investment expenses other than the interest on the loan. a. Calculate Matthew's itemized deduction for investment interest expense for this year. fill in the blank 1 of 1$ b. Is Matthew entitled to a deduction (related to the investment interest expense) in future years? fill in the blank 1 of 3 , the unused deduction of fill in the blank 2 of 3$fill in the blank 3 of 3 be carried
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