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For 2021, Tarik, a single parent, reported the following amounts relating to his investments: What is the maximum amount that Tarik could deduct in 2021

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For 2021, Tarik, a single parent, reported the following amounts relating to his investments: What is the maximum amount that Tarik could deduct in 2021 as investment interest expense? a. $7,000. b. $6,000. c. $2,000. d. $1,000. Referring to the previous question, what is the treatment for the interest expense that Tarik could not deduct in 2021? a. It is lost. b. It cannot be used except as a carryback to previous years. c. It can be carried forward and deducted in succeding years. d. None of the above

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