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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. The
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 $3,650 in investment expenses. They also incur $5,750 of investment interest expense during the year. The Porters' income for the year consists of $183,000 in salary, and $4,810 of interest income. b. What would their investment interest expense deduction be if they also had a ($2,770) long-term capital loss? Investment interest expense deduction
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