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Business, 12.12.2020 17:10 natjon528

On April 1, year 1, Mary borrowed $130,000 to re-finance the original mortgage on her principal residence. Mary paid 1 points to reduce her interest rate from 7% to 6%. The loan is for a 30-year period. How much can Mary deduct in year 1 for her points paid?

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On April 1, year 1, Mary borrowed $130,000 to re-finance the original mortgage on her principal resi...
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