I received from the IRS the following letter;"It appears u may have deducted more investment interest than u were allowed, which cant be morethan your investment income"I had $5,525 in interest expenses for buying stock on margin, &earned $30,000 in short term(ST)capital gains with $6k in LT capital losses. Short term capitalgains is..included as investmentincome where long term is onlyincluded if elected on line 4e of this form 4952.I had suffient ST capital gainsfor the deduction, right? Or did Ijust fill the form out wrong?I put the 25k on line4b(net gain from the dispositionof property held for investment), nothing on 4c, and nothing on line 4c(net CAPTIAL gainfrom the disposition of propertyheld for investment).the 25k was carried down to line 4d which is4b & 4c subtracted.What does the IRS want?How would the info be presentedif I also had long term capital gainsas well? TY
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