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Markinna pays $3,100 interest on a car loan (car was used for use in her employment) , $420 interest on a loan to purchase a
Markinna pays $3,100 interest on a car loan (car was used for use in her employment) , $420 interest on a loan to purchase a computer for personal use, $930 interest on credit cards, and $1,400 investment interest expense. Markinna has net investment income of $1100 Markinna's deductible interest is Select one: a. $1100 b. $0 c. $1,400 d. $4,500. e. $5430 Kyle and Laura Wilkerson want to shift income to their daughter Hallie who is only 5 years old. Their ability to do so will not be successful if any of the following tax policies and provisions apply that limit the practice except for: Select one: a. the assignment of income doctrine. b. the claim of right doctrine. c. the imposition of the gift tax. d. the kiddie tax
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