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During the current year, Dave earned an investment income of $20,000. In addition, he incurred investment interest expense of $12,000 and other investment expenses of
During the current year, Dave earned an investment income of $20,000. In addition, he incurred investment interest expense of $12,000 and other investment expenses of $9,000. Dave can deduct $12,000 of investment interest expense for this year.
true or false
Cheryl is single, has one child (age six), and files as head of household during 2023. Her salary for the year is $23,700. She qualifies for an earned income credit of the following amount.
$0.
$3,653.
$3,793.
$3,995.
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