Barb borrowed $100,000 to acquire a parcel of land to be held for investment purposes.During 2011,she paid interest of $11,000 on the loan.She had AGI of $75,000 for the year.Other items related to Barb's investments include the following:
Barb is unmarried and elects to itemize her deductions.She has no miscellaneous itemized deductions other than the investment counsel fees.

Question

Barb borrowed $100,000 to acquire a parcel of land to be held for investment purposes.During 2011,she paid interest of $11,000 on the loan.She had AGI of $75,000 for the year.Other items related to Barb's investments include the following:
  Barb is unmarried and elects to itemize her deductions.She has no miscellaneous itemized deductions other than the investment counsel fees.

Quizplus · Accepted Answer

The Answer of Barb borrowed $100,000 to acquire a parcel of land to be held for investment purposes.During 2011,she paid interest of $11,000 on the loan.She had AGI of $75,000 for the year.Other items related to Barb's investments include the following:
  Barb is unmarried and elects to itemize her deductions.She has no miscellaneous itemized deductions other than the investment counsel fees.

Barb Borrowed $100,000 to Acquire a Parcel of Land to Be