In 2016,Mario Earned $9,000 in Net Investment Income and Incurred

question 65

Multiple Choice

In 2016,Mario earned $9,000 in net investment income and incurred $14,000 of investment interest expense.Mario paid off the loan in early 2017,so he only paid $2,000 of investment interest expense in 2017.He earned $10,000 of net investment income in 2017.How much investment interest expense can Mario deduct in 2017?

• A)$2,000
• B)$10,000
• C)$7,000
• D)$0

---

Definitions:

Challenging Job

A job role that demands high levels of skill, effort, and perseverance, often leading to personal and professional growth.

Close Supervision

The process of overseeing employees’ work in a detailed and continuous manner to ensure standards are met.

Fringe Benefits

Additional compensations provided to employees beyond their basic salary, such as health insurance, retirement plans, or company cars.

Persistence

The continuous effort to do or achieve something despite difficulties, failure, or opposition.