Question: Exercise 11-33 (Algorithmic) (LO. 10) Troy's financial records for the year reflect the following: Interest income from bank savings account Taxable annuity receipts City ad

Exercise 11-33 (Algorithmic) (LO. 10) Troy's financial records for the year reflect the following: Interest income from bank savings account Taxable annuity receipts City ad valorem property tax on investments Investment interest expense $1,200 2,400 180 4,200 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 $ and his investment interest deduction is $ investment interest expense not deducted this year is Any potential excess

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