Matthew borrows $250,000 to invest in bonds. During 2013
KnowledgeCats (Not rated)
(Not rated)
Matthew borrows $250,000 to invest in bonds. During 2013, his interest on the loan is $30,000. Matthew's interest income from the bonds is $10,000. This is Matthew's only investment income.
a) calculate Matthew's itemized deduction for investment interest expense for this year. ______________________
b) Is Matthew entitled to a deduction in future years? ______________
Explain ________________________________________
I'm thinking this goes on form 1040 schedule A?
- 10 years ago
Matthew borrows $250,000 to invest in bonds. During 2013
NOT RATED
Purchase the answer to view it