During the current year, Tina purchases a beachfront condominium for ($600,000,) paying ($150,000) down and taking out

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During the current year, Tina purchases a beachfront condominium for $$600,000,$ paying $$150,000$ down and taking out a $$450,000$ mortgage, secured by the property. At the time of the purchase, the outstanding mortgage on her principal residence is $$700,000.$ This debt is secured by the residence. The FMV of the principal residence is $$950,000.$ She purchased the principal residence in 2018. What is the amount of qualified indebtedness on which Tina may deduct the interest payments?

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