Amount of their allowable deduction for investment interest

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Reference no: EM13898684

Question Douglas and Dena paid the following amounts of interest during 2010:

Qualified home mortgage interest

$13,000

Other consumer interest

5,000

Investment interest

10,000

(no investment income)

a. Calculate the amount of their allowable deduction for investment interest for 2010.

b. Calculate the amount of Douglas and Dena's total allowable deduction for interest for 2010.

Reference no: EM13898684

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