Business, 06.04.2021 05:20, davidoj13

This year Randy paid $28,900 of interest on his residence. (Randy borrowed $462,000 to buy his residence, and it is currently worth $512,000.) Randy also paid $2,800 of interest on his car loan and $4,650 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 $28,900 of interest on his residence. (Randy borrowed $462,000 to buy his resid...