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04-11-2022
Business

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doug and sue click file a joint tax return and decide to itemize their deductions. the clicks' income for the year consists of $90,900 in salary, $2,450 interest income, and $890 long-term capital loss. the clicks' expenses for the year consist of $1,050 investment interest expense. assuming that the clicks' marginal tax rate is 35 percent, what is the amount of their investment interest expense deduction for the year?

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