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2. Internal Revenue Code section 212 - Wikipedia

   en.wikipedia.org/wiki/Internal_Revenue_Code...

   Internal Revenue Code § 212 ( 26 U.S.C. § 212) provides a deduction, for U.S. federal income tax purposes, for expenses incurred in investment activities. Taxpayers are allowed to deduct all the ordinary and necessary expenses paid or incurred during the taxable year--. (1) for the production or collection of income; (2) for the management ...

3. Tax Reform Act of 1986 - Wikipedia

   en.wikipedia.org/wiki/Tax_Reform_Act_of_1986

   The Economic Recovery Tax Act of 1981 (ERTA) removed the pension plan clause and raised the contribution limit to the lesser of $2000 or 100% of earned income. The 1986 Tax Reform Act retained the $2000 contribution limit, but restricted the deductibility for households that have pension plan coverage and have moderate to high incomes.

4. Are home equity loans tax-deductible? - AOL

   www.aol.com/finance/home-equity-loans-tax...

   Key takeaways. Joint filers who took out a home equity loan after Dec. 15, 2017, can deduct interest on up to $750,000 worth of qualified loans ($375,000 if single or married filing separately).

5. Alternative minimum tax - Wikipedia

   en.wikipedia.org/wiki/Alternative_minimum_tax

   The alternative minimum tax ( AMT) is a tax imposed by the United States federal government in addition to the regular income tax for certain individuals, estates, and trusts. As of tax year 2018, the AMT raises about $5.2 billion, or 0.4% of all federal income tax revenue, affecting 0.1% of taxpayers, mostly in the upper income ranges. [ 1][ 2]

6. Can you get a home equity loan on investment or rental ... - AOL

   www.aol.com/finance/home-equity-loan-investment...

   Joint and single filers who took out their home equity loan after Dec. 15, 2017, can deduct interest on up to $750,000 worth of qualified loans, while separate filers can deduct the interest on up ...

7. Mortgage interest deduction: What it is and what qualifies - AOL

   www.aol.com/finance/mortgage-interest-deduction...

   For mortgages taken out since Dec. 16, 2017, you can deduct only the interest on the first $750,000 if you are single or married filing jointly ($375,000 if you are married filing separately ...

8. Earned income tax credit - Wikipedia

   en.wikipedia.org/wiki/Earned_income_tax_credit

   Investment income cannot be greater than $3,650 for the 2020 tax year. [29] As a result of the American Rescue Plan Act of 2021, the investment income limit was increased to $10,000 effective the 2021 tax year and will be adjusted for inflation. Investment income includes interest, dividends, capital gains, rental income, and passive activities ...

9. 3 tax-deductible investment expenses you should take - AOL

   www.aol.com/2019-03-20-3-tax-deductible...

   For example, if an investor has investment income of $1,000 and interest expenses of $500, then he or she can deduct the interest expense of $500 on the tax return.