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Matilda Morse incurs interest expense on loans used to purchase investments producing taxable income. The amount of the interest expense is $4,000 and the amount
Matilda Morse incurs interest expense on loans used to purchase investments producing taxable income. The amount of the interest expense is $4,000 and the amount of her investment income is $3,500 (none of this investment income qualifies for a reduced tax rate).
What is her allowable deduction for investment interest expense for 2019? Do not use dollar signs. Do not use commas.
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