Which of the Following Interest Expense Amounts Is Not Deductible

question 29

Multiple Choice

Which of the following interest expense amounts is not deductible in 2017?

• A)Education loan interest of $2,000,assuming the taxpayer is single and has income of $150,000.
• B)Home equity loan interest of $9,000 on a loan of $100,000,the proceeds of which were used to purchase a vacation home.
• C)Investment interest expense of $10,000,assuming the taxpayer has $15,000 of investment income.
• D)Points of $2,000 paid on a mortgage loan for the purchase of a new principal residence.

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Definitions:

Meeting Request

A digital invitation sent through email or a calendar application to invite participants to a scheduled meeting.

Email Message Icon

A graphical representation used to signify the email function or to access an email client in a digital interface.

iCalendar

A standard file format used for storing calendar information, such as events and tasks, which can be shared across different calendar applications and platforms.

Meeting Request

A digital invitation sent through email or a calendar application, asking recipients to attend a scheduled meeting at a specified date and time.