Jacoby purchased a home in 2016 for $1,500,000 by making a $150,000 down payment and by borrowing the remaining $1,350,000 with a loan secured by the home. he made interest only payments for 2016, 2017, and 2018. in 2018, jacoby can deduct interest expense on $1,100,000 of the loan principal.

In year 1, the bennetts' 25-year-old daughter, jane, is a full-time student at an out-of-state university but she plans to return home after the school year ends. in previous years, jane has never worked and her parents have always been able to claim her as a dependent. in year 1, a kind neighbor offers to pay for all of jane's educational and living expenses. which of the following statements is most accurate regarding whether jane's parents would be allowed to claim an exemption for jane in year 1 assuming the neighbor pays for all of jane's support? a. no, jane must include her neighbor's gift as income and thus fails the gross income test for a qualifying relative. b.yes, because she is a full-time student and does not provide more than half of her own support, jane is considered her parent's qualifying child. c.no, jane is too old to be considered a qualifying child and fails the support test of a qualifying relative. d.yes, because she is a student, her absence is considered as "temporary." consequently she meets the residence test and is a considered a qualifying child of the bennetts.

Kendrick is leaving his current position at a company, and charlize is taking over. kendrick set up his powerpoint for easy access for himself. charlize needs to work in the program that is easy for her to use. charlize should reset advanced options

Four students are at an extracurricular activity fair at their high school and are trying to decide which clubs to join. some information about the students is listed in this chart: which describes which ctso each student should join?