During the current year, Yoon earned $10,000 in interest on corporate bonds and incurred $13,000 of investment
Question:
a. How much investment interest expense can Yoon deduct for regular income tax purposes for the year?
b. What AMT adjustments and preferences arise as a result of the private activity bond interest income and expense?
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a For regular income tax purposes and AMT purposesinvestment interest expense is limited to net inve...View the full answer
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Related Book For 
South Western Federal Taxation 2017 Comprehensive
ISBN: 9781305874169
40th Edition
Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young
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