-Which of the following is deductible as interest expense?

A) personal credit card interest

B) interest to purchase tax-exempt bonds

C) interest on a the purchase of a home (principal residence).

D) bank service charges on personal account

-In 2016, Juan earned $10,000 in net investment income and incurred $15,000 of investment interest expense. Juan paid off the loan in early 2017, so he only paid $3,000 of investment interest expense in 2017. He earned $12,000 of net investment income in 2017. How much investment interest expense can Juan deduct in 2017?

A) $0

B) $3,000

C) $5,000

D) $8,000

-Nasim paid the following taxes this year:

Real estate taxes on rental property she owns	$5,000
Real estate taxes on her own residence	4,400
Federal income taxes	10,000
State income taxes	6,750

For 2018, what amount can Nasim deduct as an itemized deduction on her tax return?

A) $8,150

B) $10,000

C) $18,150

D) $23,150

-In the current year, Deana earns $12,000 in net investment income and incurs $16,000 of investment interest expense. What is the maximum amount of investment interest expense she is allowed to deduct this year?

A) $0

B) $4,000 deductible this year; $12,000 carried forward to next year

C) $12,000 deductible this year; $4,000 carried forward to next year

D) $16,000 deductible this year; nothing to be carried forward to next year