Tyrone and Akira incurred and paid the following amounts of interest during 2016:

Home acquisition debt interest	$	10,500
Credit card interest		3,200
Home equity loan interest		5,210
Investment interest expense		8,400

With 2016 net investment income of $1,050, calculate the amount of their allowable deduction for investment interest expense and their total deduction for allowable interest. Home acquisition principal is less than $1,000,000, and the home equity loan principal is less than $100,000.

The two questions I have are:

What is the deduction for investment interest expense?

What is the total deduction for allowable interest before any phase-out limits?