Helen paid the following amounts of interest during the 2019 tax year: Mortgage interest on Dallas residence

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Helen paid the following amounts of interest during the 2019 tax year:

Mortgage interest on Dallas residence (loan balance $50,000)...$1,600

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

Mortgage interest on Vail residence (loan balance $50,000).........3,100

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

Calculate the amount of Helen’s itemized deduction for interest (after limitations) for 2019.

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Income Tax Fundamentals 2020

ISBN: 9780357108239

38th Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill

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Question Posted: Aug 24, 2020 08:59 AM

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Helen paid the following amounts of interest during the 2019 tax year: Mortgage interest on Dallas residence

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Income Tax Fundamentals 2020

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