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Business, 27.03.2020 01:51 Kurlyash

This year, Randy paid $29,350 of interest on his residence. (Randy borrowed $468,000 to buy his residence, and it is currently worth $518,000.) Randy also paid $2,950 of interest on his car loan and $4,875 of margin interest to his stockbroker (investment interest expense). How much of this interest expense can Randy deduct as an itemized deduction under the following circumstances

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This year, Randy paid $29,350 of interest on his residence. (Randy borrowed $468,000 to buy his resi...
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