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Chen incurred $58,500 of interest expense this year related to his investments. His investment income includes $15,000 of interest, $9,000 of qualified dividends, and a $22,500 net capital gain on the sale of securities. The maximum amount of Chen's investment interest expense deduction for the year is:_____________.

Respuesta :

Answer:

$46,500

Explanation:

Data provided in the question:

Interest expense = $58,500

Interest = $15,000

Qualified dividends = $9,000

Capital gain on the sale of securities = $22,500

Now,

The maximum amount of investment interest expense deduction for the year

= Interest + Qualified dividends+ net capital gain

or

=  $15,000 +  $9,000 + $22,500

or

= $46,500