All the following steps would reduce Needlemann's tax liability, EXCEPT: 

A. Refinance the home and increase the mortgage balance enough to increase the mortgage interest paid. 

B. Purchase another publicly traded limited partnership (PTP) generating a loss to further offset his passive income. 

C. Make a gift of less than $4,000 worth of dividend-paying securities to his son. 

D. Sell some securities that are paying taxable interest and purchase more public-purpose municipal bonds.

 

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