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Author Question: Faye earns $100,000 of AGI, including $90,000 of salary and $10,000 of interest income. Faye does ... (Read 56 times)

nevelica

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Faye earns $100,000 of AGI, including $90,000 of salary and $10,000 of interest income. Faye does itemize her deductions. The miscellaneous category of her itemized deductions consists of $1,500 of unreimbursed employee business expenses and a $900 fee paid for investment advice. Faye has paid $11,000 of interest expense on a loan used to purchase stocks. How much of the $11,000 interest expense can be deducted this year?
◦ $11,000
◦ $10,000
◦ $9,100
◦ $9,600


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Marked as best answer by nevelica on Sep 13, 2020

Jadwiga9

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nevelica

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Reply 2 on: Sep 13, 2020
YES! Correct, THANKS for helping me on my review


hollysheppard095

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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