Business, 18.05.2021 19:20, torquishag

This year Randy paid $29,800 of interest on his residence. (Randy borrowed $474,000 to buy his residence, and it is currently worth $524,000.) Randy also paid $3,100 of interest on his car loan and $5,100 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 $29,800 of interest on his residence. (Randy borrowed $474,000 to buy his resid...