Laurie has a brokerage account at dean schwab inc. she, Ask an Expert

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Laurie has a brokerage account at Dean Schwab, Inc. She makes investments on margin through this account. During the current year, she incurs $10,000 in margin interest in the account. Income generated through the brokerage account was

Corporate bond interest: $30,000
Municipal bond interest: $20,000
What is the amount of Laurie's deductible investment interest?

Answer

A) $6,000

B) $4,000

C) $10,000

D) $-0-

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9414184

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