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Mickey and Jenny Porter file a joint tax return, and they itemize deductions. The Porters incur $2,000 in investment expenses. They also incur $3,000 of
Mickey and Jenny Porter file a joint tax return, and they itemize deductions. The Porters incur $2,000 in investment expenses. They also incur $3,000 of investment interest expense during the year. The Porters' income for the year consists of $150,000 in salary and $2,500 of interest income. b. What would their investment interest expense deduction be if they also had a $2,000) long-term capital loss? Investment interest expense deduction
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