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All of the following statements are true except

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All of the following statements are true except

All of the following statements are true except
A) investment interest expense is deductible to the extent of a taxpayer's net investment income.
B) short-term capital gains meet the definition of net investment income.
C) investment interest expense includes interest expense to purchase or carry tax-exempt securities.
D) net investment income is the taxpayer's investment income in excess of investment expenses.

Textbook

Prentice Hall's Federal Taxation: 2011: Individuals

Edition: 14^th

Authors: Pope, Anderson, Kramer

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