Phuong Has the Following Sources of Investment Income Barring Any Special Elections,how Much of the Investment Income Will

question 13

Multiple Choice

Phuong has the following sources of investment income: $$\begin{array} { | l | r | } \hline \text { Money market account interest } & \$ 2,000 \\\hline \text { Interest on State of New York bond } & 1,000 \\\hline \text { Dividends from domestic stocks } & 3,000 \\\hline \text { Long-term capital gain } & 4,000 \\\hline \text { Short-term capital gain } & 5,000 \\\hline\end{array}$$ 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

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