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What is the maximum amount that jorge can deduct

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Reference no: EM131812873

Question - For 2011 Jorge a single father reported the following amounts relating to his investments

net investment income from interest 7,000

interest expense on a loan to purchase stocks 2,000

interest expense on funds borrowed in 2010 to

purchase land for investment 6,000

What is the maximum amount that Jorge can deduct in 2011 as investment interest expense?

a-1,000

b-2,000

c-6,000

d-7,000

Reference no: EM131812873

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