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Required information Problem 7-56 (LO 7-3) (Algo) [The following information applies to the questions displayed below.] Mickey and Jenny Porter file a joint tax
Required information Problem 7-56 (LO 7-3) (Algo) [The following information applies to the questions displayed below.] Mickey and Jenny Porter file a joint tax return, and they itemize deductions. The Porters incur $3,425 in investment expenses. They also incur $5,375 of investment interest expense during the year. The Porters' income for the year consists of $178,500 in salary and $4,495 of interest income. Problem 7-56 Part-b (Algo) b. What would their investment interest expense deduction be if they also had a ($2,665) long-term capital loss? Investment interest expense deduction
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