All of the following statements are true except
A)investment interest expense is deductible to the extent of a taxpayer's net investment income.
B)short-term capital gains meet the definition of net investment income.
C)investment interest expense includes interest expense to purchase or carry tax-exempt securities.
D)net investment income is the taxpayer's investment income in excess of investment expenses.

Question

Quizplus · Accepted Answer

Investment interest expense does not include interest expense to purchase or carry tax-exempt securities, as the interest on these securities is not taxable.

All of the Following Statements Are True Except