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

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

Phuong Has the Following Sources of Investment Income: Barring