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What amount of investment interest can the taxpayer deduct

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Reference no: EM132824928

An individual taxpayer reports the following information:

U.S Treasury bond income $ 100
Manicipal bond income 200
Rental income 500
Investtment interest expense 1,000

Problem 1: What amount of investment interest can the taxpayer deduct in the current year?

A. $100

B. $300

C. $800

D. $1,000

Reference no: EM132824928

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