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In 20X1, Brad borrowed $200,000, and used all of the money to buy stocks. In 20X1, he incurred $3,000 of interest expense on the $200,000
In 20X1, Brad borrowed $200,000, and used all of the money to buy stocks. In 20X1, he incurred $3,000 of interest expense on the $200,000 loan. In 20X1, he had net investment income of $1,150. In 20X1, how much of a deduction for investment interest expense can Brad claim on his Federal Income Tax Form 1040, Schedule A? Group of answer choices $0 $1,150 $1,500 $3,000
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