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Jason Bridges borrows $320,000 and invests the entire amount in the shares of Loser Inc. Six months later, he sells these shares for $175,000. The
Jason Bridges borrows $320,000 and invests the entire amount in the shares of Loser Inc. Six months later, he sells these shares for $175,000. The proceeds of the sale are used to pay off $175,000 of the loan, leaving an ongoing balance of $145,000. Can he continue to deduct the interest payments on this $145,000 balance? A. He can continue to deduct the interest B. He cannot continue to deduct the interest
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