Tyrone and Akira, who are married, incurred and paid the following amounts of interest during 2019: Home acquisition debt interest $ 15,000
Credit card interest 5,000
Home equity loan interest (used for home improvement) 6,500
Investment interest expense 10,000
Required: With 2019 net investment income of $2,000, calculate the amount of their allowable deduction for investment interest expense and their total deduction for allowable interest. Home acquisition principal, and the home equity loan principal combined are less than $750,000.

The Investment Interest (limited to Investment income) = $2,000

Allowance deduction for Interest

Investment interest                        $2,000

Home acquisition debt interest    $15,000

Home equity loan interest             $6,500

                                                        $23,500 - Before phase out limits

typically a loft will include modern kitchen and bathrooms, this increases the price tag. lofts also have a good amount of open space, this requires more heating and electricity. lofts are also in older buildings, this means that maintaining the location increases the bill. keep in mind this is without talking about the high state and property taxes.

i hope this you! : )

anjan should should report alteast 5000 on the first apyment and 10,000 each year

explanation: