Qhat is the allowable deduction of interest

Reference no: EM13147022

Oscar pays $2000 of interest on $20,000 of debt incurred for purchase a municipal bonds and corporate bonds. oscar receives $800 of interest on the municipal bond and $800 interest on the corporate bonds. what is the allowable deduction on the $2,000 of interest? Explain your answer and show all calculations.

Reference no: EM13147022

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