Phoebe's AGI for the current year is $120,000.Included in this AGI is $100,000 salary and $20,000 of interest income.In earning the investment income,Phoebe paid investment interest expense of $30,000.She also incurred the following expenditures subject to the 2% of AGI limitation:
Investment expenses:
Noninvestment expenses:
What is Phoebe's investment interest expense deduction for the year?
Definitions:
Romantic Partner
A person with whom someone is involved in a romantic relationship.
Disapproval
An expression of dissatisfaction or disagreement with someone or something.
T-shirt Study
A series of experiments in social psychology that investigate how people perceive and judge others based on minimal information, such as their choice of clothing.
Selection Influence
The impact that the choice of individuals, groups, or elements to study can have on the outcome of research.
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