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I'm having a problem figuring out the following: Shelby has net investment income of $16,250 and wage income of $70,000. She paid investment interest expense
I'm having a problem figuring out the following:
Shelby has net investment income of $16,250 and wage income of $70,000. She paid investment interest expense of $16,700. What is Shelby's deduction for investment interest expense?
I was thinking that you take the interest expense and minus the investment income.
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