Troy's financial records for the year reflect the following: Interest income from bank savings account $1,440 Taxable annuity receipts 2,880 City ad valorem property tax on investments 216 Investment interest expense 5,040 Calculate Troy's net investment income and his current investment interest deduction. How is a deduction for any potential excess investment interest treated?Troy's net investment income is $and his investment interest deduction is $investment interest expense not deducted this year is.

net Investment income for Troy = $4,104.

Investment interest deduction = $4,104.

Brought forward.

Explanation:

So, from the question above we are his the folly information for the financial report of Troy.

=> Interest income from bank savings account = $1,440.

=> The Taxable annuity receipts = 2,880.

=> City ad valorem property tax on investments = 216.

=> Investment interest expense = 5,040.

Therefore, Troy's net investment income can be calculated by the addition of Interest income from bank savings account with The Taxable annuity receipts, that is;

Troy's investment income = Interest income from bank savings account + The Taxable annuity receipts.

Troy's investment income = $1,440 + 2,880 = $4,320.

Therefore, the net Investment income for Troy is calculated as;

The net Investment income for Troy = Troy's investment income - City ad valorem property tax on investments.

=>The net Investment income for Troy = $4,320 - $216 = $4,104

Therefore let's fill in the gaps given in the question:

"Troy's net investment income is $4,104 and his investment interest deduction is $4,104.

Investment interest expense not deducted this year is BROUGHT FORWARD"

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