Question: . 1. In 2021, Mike, a single parent, reported the following amounts relating to his investments: Interest investment income $7,000 Interest expense on a loan

. 1. In 2021, Mike, a single parent, reported the following amounts relating to his investments:

Interest investment income $7,000

Interest expense on a loan to purchase stocks 2,000

Interest expense on funds borrowed to purchase land for investment 6,000

What is the maximum amount that Mike could deduct in 2021 as investment interest expense?

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