For investment interest expense in 2017,the deduction by a taxpayer is:
A)Limited to the investment interest expense paid in 2017.
B)Limited to the taxpayer's net investment income for 2017.
C)Not limited.
D)Limited to the taxpayer's gross investment income for 2017.

Question

Quizplus · Accepted Answer

The deduction for investment interest expense in 2017 is generally limited to the taxpayer's net investment income for the year. Any excess investment interest expense may be carried forward to future years. However, there are certain exceptions and special rules that may apply, such as the election to treat net long-term capital gain as investment income.

For Investment Interest Expense in 2017,the Deduction by a Taxpayer