Business, 09.11.2020 16:30 angelteddy033

This year Randy paid $29,050 of interest on his residence. (Randy borrowed $464,000 to buy his residence, and it is currently worth $514,000.) Randy also paid $2,850 of interest on his car loan and $4,725 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 $29,050 of interest on his residence. (Randy borrowed $464,000 to buy his resid...

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