Business, 19.10.2021 07:40 MZ2017

Doug and Sue Click file a joint tax return and decide to itemize their deductions. The Clicks' income for the year consists of $89,400 in salary, $1,700 interest income, and $740 long-term capital loss. The Clicks' expenses for the year consist of $1,675 investment interest expense. Assuming that the Clicks' marginal tax rate is 35 percent, what is the amount of their investment interest expense deduction for the year

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Doug and Sue Click file a joint tax return and decide to itemize their deductions. The Clicks' incom...

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