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Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
Edition 4ISBN: 978-0078110993Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
Edition 4ISBN: 978-0078110993 Exercise 8
Shelby has net investment interest income of $18,450 and other income of $76,000. She paid investment interest expense of $19,000. What is Shelby's deduction for investment interest expense? Explain your answer.
Explanation
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Investment interest expense (l...
Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
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