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Required information [The following information applies to the questions displayed below.] Mickey and Jenny Porter file a joint tax return, and they itemize deductions.
Required information [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 $3,500 in investment expenses. They also incur $5,500 of investment interest expense during the year. The Porters' income for the year consists of $180,000 in salary and $4,600 of interest income. a. What is the amount of the Porters' investment interest expense deduction for the year? Investment interest expense deduction
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