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  1. business
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  3. phoebe's agi for the current year is $140,000. inc

Phoebe's AGI for the current year is $140,000. Included in this AGI is $100,000 salary,...

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Accounting

Phoebe's AGI for the current year is $140,000. Included in this AGI is $100,000 salary, $20,000 of interest income earned on bank accounts, $12,000 of dividend income, a short-term capital gain of $2,000, and a long-term capital gain of $6,000. In earning the investment income, Phoebe paid investment interest expense of $30,000. What is Phoebe's investment interest expense deduction for the year, assuming no special elections are made?

Please be careful on the year, thanks

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