Phuong has the following sources of investment income: Barring any special elections, how much of the investment income will be included in calculating net investment income for purposes of the investment interest expense limitation?
A) $2,000
B) $7,000
C) $$5,000
D) $15,000

Question

Phuong has the following sources of investment income:  Barring any special elections, how much of the investment income will be included in calculating net investment income for purposes of the investment interest expense limitation?
A) $2,000 
B) $7,000 
C) $$5,000 
D) $15,000

Quizplus · Accepted Answer

Only the money market account interest and the short-term capital gain will be included.

Phuong Has the Following Sources of Investment Income: Barring $$5,000 D) $15,000

Phuong Has the Following Sources of Investment Income: Barring $$5,000
D) $15,000