Business, 17.09.2019 20:30 Evixie84

This year, major healy paid $ 40,000 of interest on a mortgage on his home (he borrowed $ 800,000 to buy the residence in 2015; $ 900,000 original purchase price and value at purchase), $ 6,000 of interest on a $ 120,000 home-equity loan on his home (loan proceeds were used to buy antique cars), and $ 10,000 of interest on a mortgage on his vacation home (borrowed $ 200,000 to purchase the home in 2010). major healy's agi is $ 220,000. how much interest expense can major healy deduct as an itemized deduction

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This year, major healy paid $ 40,000 of interest on a mortgage on his home (he borrowed $ 800,000 to...

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