Business, 14.04.2020 23:21 alani64

This year, Randy paid $30,250 of interest on his residence. (Randy borrowed $480,000 to buy his residence, and it is currently worth $530,000.) Randy also paid $3,250 of interest on his car loan and $5,325 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 $30,250 of interest on his residence. (Randy borrowed $480,000 to buy his resi...

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