What is the allowable deduction on the 2000 of interest?, Ask an Expert

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Oscar pays $2000 of interest on $20,000 of debt incurred for purchase a municipal bonds and corporate bonds. oscar receives $800 of interest on the municipal bond and $800 interest on the corporate bonds. what is the allowable deduction on the $2,000 of interest? Explain your answer and show all calculations.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9437166

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