For the Current Tax Year, David, a Married Taxpayer Filing

question 47

Multiple Choice

For the current tax year, David, a married taxpayer filing a joint return, reported the following: What is the maximum amount that David can deduct in the current year as investment interest expense?

• A)$7,000
• B)$20,000
• C)$21,000
• D)$24,000
• E)None of the above

---

Definitions:

Financial Institution

An organization that provides financial services, such as banks, insurance companies, and investment firms.

Suppliers

Entities or individuals that provide goods or services to another business, often as part of a supply chain.