Ted pays $2,100 interest on his automobile loan,$120 interest on a loan to purchase a computer for personal use,$630 interest on credit cards,and $1,100 investment interest expense.Ted has net investment income of $850.Ted's deductible interest is

Question

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Ted can only deduct investment interest expense up to the amount of his net investment income, which is $850. The other interest expenses are personal and not deductible.

Ted Pays $2,100 Interest on His Automobile Loan,$120 Interest on a Loan