Required information

Problem 7-56 (LO 7-3)

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Mickey and Jenny Porter file a joint tax return, and they itemize deductions. The Porters incur $3,050 in investment expenses. They also incur $4,750 of investment interest expense during the year. The Porters income for the year consists of $171,000 in salary, and $3,970 of interest income.

Problem 7-56 Part-a

a. What is the amount of the Porters investment interest expense deduction for the year?

Investment interest expense deduction = ?