Margaret Lindley paid $15,010 of interest on her $300,100 acquisition debt for her home (fair market value of $500,100), $1,010 of credit card interest, and $3,010 of margin interest for the purchase of stock. Assume that Margaret Lindley has $10,010 of interest income this year and no investment expenses. How much of the interest expense may she deduct this year?

rev: 10_13_2018_QC_CS-143382

Multiple Choice

• None of the choices are correct.
• $18,020.
• $19,020.
• $23,040.
• $22,030.