Barbara is single and owns a home in the city, which is her primary residence. She also

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Barbara is single and owns a home in the city, which is her primary residence. She also owns a cottage at the beach, which she treats as a vacation home. In April 2018, she borrowed $50,000 on a home equity loan and used the proceeds to pay off credit card obligations and other debt. She paid the following in 2018:


Mortgage interest (personal residence)           $15,000

Mortgage interest (cottage)                                    8,000

Interest on the home equity loan                          5,000

Interest on credit card                                             2,500


Calculate any AMT adjustment concerning interest in 2017.

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Related Book For  answer-question

Fundamentals Of Taxation 2019

ISBN: 9781260158670

12th Edition

Authors: Ana M. Cruz Dr., Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone

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