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Business, 02.12.2019 19:31 angieboyd1pe3jme

Helen derby borrowed $150,000 to acquire a parcel of land to be held for investment purposes. during the current year, she reported agi of $90,000 and paid interest of $12,000 on the loan. other items related to helen's investments include the following:
interest and annuity income $11,000long-term capital gain on sale of stock 3,500real estate tax on the investment land 200a. determine helen's investment interest deduction for the current year. b. discuss the treatment of the portion of helen's investment interest that is disallowed in 2017.c. complete helen's form 4952 (links to an external site.)links to an external site. for the current year. for this purpose, assume that she chooses not to include the long-term capital gain as investment income. her social security number is 123-45-6789.

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Helen derby borrowed $150,000 to acquire a parcel of land to be held for investment purposes. during...
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