Question: Matt Damon borrowed $ 1 0 , 0 0 0 to purchase City of Adel bonds. This year, he received $ 6 0 0 in

Matt Damon borrowed $10,000 to purchase City of Adel bonds. This year, he received $600 in City of Adel bond interest on the bonds purchased. He also paid $500 in interest on the $10,000 loan. How much of the interest on the loan is deductible?
Matt Damon borrowed $ 1 0 , 0 0 0 to purchase

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