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How much of the interest is tax deductible

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Further, assume she takes out a further home equity loan of $20,000 to purchase $10,000 of tax-exempt securities and $10,000 of taxable investments. The interest payments associated with the $20,000 come to $1200. Taxable net investment income for the year (before any interest deduction) is $700.

Problem A) How much of this interest is tax deductible (assuming that Ashley itemizes her deductions)?

Reference no: EM132797448

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