The J, a married couple, borrow to invest. Their 2020 investment interest expense paid was...
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The J, a married couple, borrow to invest. Their 2020 investment interest expense paid was 72,500. In 2020 the couple earned taxable interest income of $3,000, Qualified Dividends of 4,350, Net Short-term Capital gains of $15,000, net Long-term capital gains of 22,000, and non-qualifying dividends of 7,450. How much investment interest expense are they allowed in 2020 to deduct
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