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Mike and Sally Card file a joint return for the 2010 tax year. The adjusted gross income is $65,000 and they incur the following interest
Mike and Sally Card file a joint return for the 2010 tax year. The adjusted gross income is $65,000 and they incur the following interest expenses: Qualified education loans3500 Personal Loan1000 Home mortgage loan4000 Loan used to purchase 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 2010 tax year
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