Question

Mary’s mother defaults on a home loan and Mary pays $600 in loan payments, including $175 in interest. Mary is not legally obligated on the loan and has no ownership interest in her mother’s home.
a. What amount, if any, may Mary claim as an itemized deduction for 2014?
$ _____________________
b. Why?_______________________________________________________________________________________________________________________________________________________


$1.99
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  • CreatedJuly 16, 2015
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