Question
A single individual reports the following items in the current year: Salary $240,000 Interest income 12,000 Dividend income 14,000 Tuition and fees deduction (3,000) Investment
A single individual reports the following items in the current year:
| Salary | $240,000 |
| Interest income | 12,000 |
| Dividend income | 14,000 |
| Tuition and fees deduction | (3,000) |
| Investment interest expense | (5,000) |
What is the individual's net investment income for the purpose of determining the net investment income tax?
A.$21,000
B.$26,000
C.$258,000
D.$266,000
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Financial Accounting An Integrated Approach
Authors: Michael Gibbins
6th Edition
0176407251, 978-0176407254
