Mike and Sally Card file a joint return for the 2020 tax year. Their adjusted gross income is $65,000 and they incur the following interest expenses:

Qualified education loans	$3,500
Personal loan	1,000
Home mortgage loan	4,000
Loan used to purchase a variety of stocks, bonds, and securities	15,000

Investment income and related expenses amount to $7,000 and $500, respectively. What is Mike and Sallys interest deduction for the 2020 tax year?

Mike and Sally Card file a joint return for the 2020 tax year. Their adjusted gross income is S05,000 and they incur the following interest expenses: Qualified education loans Personal loan Home mortgage loan Loan used to purchase a variety of stocks, bonds, and securities $3,500 1,000 4,000 15,000 Investment income and related expenses amount to $7,000 and $500, respectively. What is Mike and Sally's interest deduction for the 2020 tax year