Federal Tax Research 10th Edition by Roby Sawyers,William Raabe,Gerald Whittenburg,Steven Gill

تمرين 1

Eighty percent of the Willigs' AGI comes from their submarine sandwich shop operated as a sole proprietorship. In 2014, the Willigs lost an IRS audit and owed $12,000 in 2012 federal income taxes, all attributable to inventory computations in their business. Interest on this amount totaled $3,200. All amounts due were paid by the end of 2014. How much of the interest can the Willigs deduct on their 2014 Schedule C