56. Mickey and Jenny Porter file a joint tax return, and they itemize deductions. The Porters

incur $2,000 in investment expenses. They also incur $3,000 of investment interest expense

during the year. The Porters income for the year consists of $150,000 in salary, and $2,500 of

interest income.

a. What is the amount of the Porters investment interest expense deduction for the

year?

b. What would their investment interest expense deduction be if they also had a ($2,000)

long-term capital loss?