Assume further that in 2013 betsy and dennis had net, Ask an Expert

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In 2013, Betsy and Dennis (who file a joint return) had an interest expense of $10,000 on a loan that was used to purchase a variety of stock and bonds (all producing taxable income). Assume further that, in 2013, Betsy and Dennis had net investment income of $2,000. Assume they itemize deductions, what is their maximum interest expense deduction in 2013?

a. $0

b. $2,000

c. $6,000

d. $10,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M941580

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