For 2017, Miram, a single mother, reported the following amounts relating to her investments:

Net investment income from interest	$	7,000
Interest expense on a loan to purchase stocks		2,000
Interest expense on funds borrowed in 2016 to purchase land for investment		6,000

What is the maximum amount that Miriam can deduct in 2017 as investment interest expense?

Multiple Choice

$7,000.

$2,000.

$6,000.

$8,000.

Which of the following costs are deductible on Form 1040, Schedule A, as taxes?

Real estate taxes on property owned in Mexico.

Property tax portion of vehicle registration, based on the value of the auto.

Fine for speeding.

Personal property tax on a pleasure boat.

Multiple Choice

None of the items are deductible.

All of the items are deductible.

1, 2, and 4.

3 and 4.