Helen borrowed $200,000 to acquire a parcel of land to be held for investment purpose. During 2010, she paid interest of $20,000 on the loan. She...

23. Helen borrowed $200,000 to acquire a parcel of land to be held for investment purpose. During 2010, she paid interest of $20,000 on the loan. She had AGI of $100,000 for the year. Other items related to Helen’s investments include the following:Investment income $14,100Long-term capital gain on sale of stock $5,500Investment counsel fees $3,000Helen is unmarried and elects to itemize her deductions. She has no miscellaneous itemized deduction other than the investment fees. a.