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Jennifer received $6000 interest; $4800 was tax-exempt and $1200 was taxable. In earning this income , she had $500 of expenses. Jennifer cannot specifically identify
Jennifer received $6000 interest; $4800 was tax-exempt and $1200 was taxable. In earning this income , she had $500 of expenses. Jennifer cannot specifically identify the amount of each expense item that is for each income item. What amount of interest expenses can Jennifer deduct from her tax return?
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