Question: Ms . Reid borrowed $ 6 1 , 0 0 0 from a broker to purchase Lero, Incorporated common stock. This year, she paid $

Ms. Reid borrowed $61,000 from a broker to purchase Lero, Incorporated common stock. This year, she paid $4,000 interest on the debt.
Required:
Compute her itemized deduction for this interest if the Lero stock paid a $1,900 dividend this year, and Ms. Reid had no other investment income.
Compute her itemized deduction for this interest if Ms. Reids only investment income was $800 interest on a certificate of deposit.
Compute her itemized deduction for this interest if Ms. Reids only investment income was a $5,000 ordinary dividend from her investment in Koal Mutual Fund.

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