Juanita owns a principal residence in New Jersey, a cabin in Montana, and a houseboat in Hawaii.

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Juanita owns a principal residence in New Jersey, a cabin in Montana, and a houseboat in Hawaii. All of these properties have mortgages on which Juanita pays interest. What limits, if any, apply to Juanita's mortgage interest deductions? Explain whether deductible interest is deductible for AGI or from AGI?
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Related Book For  answer-question

Taxation Of Individuals And Business Entities 2015

ISBN: 9780077862367

6th Edition

Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

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