Helen paid the following amounts of interest during the 2018 tax year: Mortgage interest on Dallas residence

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Helen paid the following amounts of interest during the 2018 tax year: 

Mortgage interest on Dallas residence (loan balance $50,000) ..............$1,585 

Automobile loan interest (personal use only) ........................................................440 

Mortgage interest on Vail residence (loan balance $50,000)...............................3,000 

Visa and Mastercard interest.......................................................................................165

Calculate the amount of Helen’s itemized deduction for interest (after limitations) for 2018.

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Related Book For  book-img-for-question

Income Tax Fundamentals 2019

ISBN: 9781337703062

37th Edition

Authors: Gerald E. Whittenburg, Steven Gill

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