Business
Business, 01.11.2019 05:31, brianogle4069

This year, carol, a single taxpayer, purchased a vacation home for $400,000 using a home equity loan of $350,000 on her principal residence. she has no other debt on her principal residence. carol paid $16,000 of interest on the debt this year. how much of this interest is deductible assuming that carol itemizes her deductions? a.$16,000 b.$0 c.$10,000 d.$125,000 e. none of these choices are correct.

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This year, carol, a single taxpayer, purchased a vacation home for $400,000 using a home equity loan...

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