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The Crane family recognized the following types of investment income during 20X6: (1) $1,500 qualified dividends, (2) $3,000 long-term capital gains, and (3) $850 taxable interest. Additionally, the Crane family has $500 in investment expenses and their other miscellaneous itemized deductions exceed 2% of their AGI for the year. The Crane family paid $3,333 in investment interest expense during 20X6. What is the best option for the Crane family if they want to maximize their deduction in 20X6 for investment interest expense? Show all possibilities.
Clayton Act
A United States antitrust law enacted to prohibit certain actions that lead to anti-competitiveness, supplementing the Sherman Antitrust Act.
Fair Trade Act
Legislation aimed at achieving fair trading practices, protecting consumers, and ensuring ethical sourcing and production conditions.
Unfair Practices Act
Legislation intended to prevent deceptive, fraudulent, or unfair business practices.
Barriers to Entry
Obstacles that prevent new competitors from easily entering an industry or area of business.
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