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Author Question: Dana paid $13,000 of investment interest expense in a year in which she earned $4,500 in dividends, ... (Read 28 times)

nautica902

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on: Sep 13, 2020

Question 1

Claudia refinances her home mortgage on June 1 of the current year.  She obtains a 30 year mortgage at 5%.  As part of the refinancing, she pays points of $3,600 (a customary practice in her location). What amount, if any, of the points are deductible?
◦ $0
◦ $70
◦ $120
◦ $3,600

Question 2

Dana paid $13,000 of investment interest expense in a year in which she earned $4,500 in dividends, $5,400 in interest income, and had a short-term capital gain of $1,000 and a long-term capital gain of $2,200. The capital gains resulted from the sale of stock held as an investment. She has no other investment-related expenses.  What is her maximum deduction for investment interest expense if Dana makes the proper elections to raise her ceiling as high as possible?
◦ $5,400
◦ $9,900
◦ $13,100
◦ $13,000
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by nautica902 on Sep 13, 2020

popopong

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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nautica902

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Reply 2 on: Sep 13, 2020
Excellent

TheDev123

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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