When paid to produce taxable investment income, which of the following is a deductible investment expense?

	Commissions paid on sales of stock.
	Cost of attending an investment-related seminar.
	Cost of investment advice.
	Travel expenses to attend a stockholder meeting.

Choose the response that is most likely to be considered investment income for the purpose of calculating deductible investment interest expense.

	Ordinary dividends.
	Tax-exempt income.
	Qualified dividends.
	Net capital gain from investment property, including capital gain distributions.

Elias has $500 of investment interest expense. His net investment income is $300. Elias may deduct __________.

The entire $500.

$300, and the remaining deduction is carried back to the prior year.

$300, and the remaining deduction is carried forward to the next year.

$300, and the remaining deduction is lost.

Harry is single. His modified adjusted gross income of $300,000 includes $25,000 of capital gains and $100,000 of ordinary income from a partnership in which he actively participates. Harry will calculate his net investment income tax on __________

	$0
	$25,000
	$100,000
	$300,000

Charles and Camille are married and file a joint return. They have modified adjusted gross income of $245,000, which includes $25,000 of capital gain. They have no other net investment income. Charles and Camille will calculate their net investment income tax on __________

	$0
	$25,000
	$70,000
	$245,000