During the current$$ year, Bob and Erin$,$ a married couple who use the cash method of$$ accounting, purchased a principal residence for $ $315$ comma $000.$

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Part $1$

a$.$ What is the total amount Bob and Erin may deduct in the current year arising from the purchase and ownership of their$$ home?

Bob and Erin may deduct

PThey paid $ $39$ comma $000$ down and financed the remaining $ $276$ comma $000$ of the purchase price with a$30-$year mortgage. At the$$ closing, they also paid $ $525$ for an$$ appraisal, $ $400$ for a title$$ search, and $1\mathrm{.}0$ points representing additional interest over the term of the loan. At the end of the$$ year, Bob and Erin received a statement from the mortgage company indicating that $ $13$ comma $000$ of their total monthly payments made during the year represents interest and $ $1$ comma $300$ is a reduction of the principal balance.They paid $ $39$ comma $000$ down and financed the remaining $ $276$ comma $000$ of the purchase price with a$30-$year mortgage. At the$$ closing, they also paid $ $525$ for an$$ appraisal, $ $400$ for a title$$ search, and $1\mathrm{.}0$ points representing additional interest over the term of the loan. At the end of the$$ year, Bob and Erin received a statement from the mortgage company indicating that $ $13$ comma $000$ of their total monthly payments made during the year represents interest and $ $1$ comma $300$ is a reduction of the principal balance.art $2$

b$.$ What is the treatment of the other items that are not$$ deductible?