Zero

600

1700

2600

1120

1575

1900

2355

Brandon and Jane Forte file a joint tax return and decide to itemize their deductions. The Forte's income for the year consists of $119,200 in salary, $600 interest income, $1,100 nonqualifying dividends, and $600 long-term capital gains. The Forte's expenses for the year consist of $2,600 investment interest expense and $820 tax preparation fees. Assuming that the Forte's marginal tax rate is 30% and they make no special elections, what is the amount of investment interest expense deduction for the year? Doug and Sue Click file a joint tax return and decide to itemize their deductions. The Click's income for the year consists of $89,800 in salary, $1,900 interest income, $780 long-term capital loss. The Click's expenses for the year consist of $1,575 investment interest expense. Assuming that the Click's marginal tax rate is 35 percent, what is the amount of their investment interest expense deduction for the year