Ken paid the following amounts for interest during 2019: Qualified interest on home mortgage $5,322 Auto loan interest 850 “Points” on the mortgage for acquisition of his personal residence 400 Service charges on his checking account 40 Mastercard interest 300 Calculate Ken’s itemized deduction for interest on the following portion of Schedule A.
Ken paid the following amounts for interest during 2019: Qualified interest on home mortgage $5,322 Auto loan interest 850 “Points” on the mortgage for acquisition of his personal residence 400 Service charges on his checking account 40 Mastercard interest 300 Calculate Ken’s itemized deduction for interest on the following portion of Schedule A.
Chapter4: Gross Income: Concepts And Inclusions
Section: Chapter Questions
Problem 4BCRQ
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Ken paid the following amounts for interest during 2019:
Qualified interest on home mortgage |
$5,322 |
Auto loan interest |
850 |
“Points” on the mortgage for acquisition of his personal residence |
400 |
Service charges on his checking account |
40 |
Mastercard interest |
300 |
Calculate Ken’s itemized deduction for interest on the following portion of Schedule A.
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