(Solution) - Troy s financial records for the year reflect the following Interest income -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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Troy's financial records for the year reflect the following:
Interest income from bank savings account ........................... $ 900
Taxable annuity receipts ................................................. 1,800
Safe deposit box rental (to hold annuity documents) ................ 125
Investment interest expense ............................................. 3,200
Calculate Troy's net investment income and his current investment interest deduction. Assume that Troy does not itemize his personal deductions. How is any potential excess investment interest deduction treated?