All of the following are for AGI deductions except:

• A. Contributions to qualified retirement accounts

• B. Rental and royalty expenses.

• C. Charitable contributions.

• D. Business expenses for a self-employed taxpayer.

Doug and Sue Click file a joint tax return and decide to itemize their deductions. The Click's income for the year consists of $90,000 in salary, $2,000 interest income, $800 long-term capital loss. The Click's expenses for the year consist of $1,500 investment interest expense. Assuming that the Click's marginal tax rate is 35 percent, what is the amount of their investment interest expense deduction for the year?

• A. $1,200.

• B. $1,500.

• C. $2,000.

• D. $2,300.

• E. None of the choices are correct.