Which of the Following Statements About Investment Interest Expense Is

question 33

Multiple Choice

Which of the following statements about investment interest expense is true?

• A)The interest is allowed as an above-the-line deduction.
• B)The interest is allowed as a miscellaneous itemized deduction.
• C)Nondeductible interest carries forward into future years.
• D)The interest is deductible to the extent of the individual's gross investment income.

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Definitions:

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The ethical principle or legal right that a physician or other health professional will hold secret all information relating to a patient, unless the patient gives consent permitting disclosure.