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8. John Jones incurred the following interest items for the current year: Interest on qualified educational loans Interest on machine used in business Interest on

8. John Jones incurred the following interest items for the current year:

Interest on qualified educational loans

Interest on machine used in business

Interest on personal residence

Interest on personal credit card purchases

Interest on investments

$3,000

1,200

8,000

600

20,000

He earned $3,000. in investment income from the investments. What is his itemized interest deduction on Schedule A?

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