Troy's financial records for the year reflect the following: interest income from bank savings account $1,480 taxable annuity receipts 2,960 city ad valorem property tax on investments 222 investment interest expense 5,180 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 $fill in the blank 1 and his investment interest deduction is $fill in the blank 2. Any potential excess investment interest expense not deducted this year is

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07-12-2022
Business

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Troy's financial records for the year reflect the following: interest income from bank savings account $1,480 taxable annuity receipts 2,960 city ad valorem property tax on investments 222 investment interest expense 5,180 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 $fill in the blank 1 and his investment interest deduction is $fill in the blank 2. Any potential excess investment interest expense not deducted this year is

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