(Answered) Problem - mike and sally card file a joint return for the

Accounting

Problem - Mike and Sally Card file a joint return for the 2010 tax year. Their AGI is $65,000 and they incur the following interest expenses:

Qualifed education loans $3,500

Personal loan 1,000

Home mortgage loan 4,000

Loan used to purchase a variety of stocks, bonds, and securities..... $15,000

Investment income and related expenses amt. to $7,000 and $500 respectively

What is Mike and Sally's interest deduction for the 2010 tax year?

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