Question: Mr and Mrs Kim own a principal residence and a

Mr. and Mrs. Kim own a principal residence and a vacation home. Each residence is subject to a mortgage. The mortgage on the principal residence is acquisition debt, while the mortgage on the vacation home is home equity debt. This year, the mortgage holders provided the following information:
Compute Mr. and Mrs. Kim’s qualified residence interest.

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  • CreatedNovember 03, 2015
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