During the current$$ year,

TabithaTabitha

purchases a beachfront condominium for

$ $500$ comma $000$$$500,000,$

paying

$ $110$ comma $000$$$110,000$

down and taking out a

$ $390$ comma $000$$$390,000$

$$mortgage$,$ secured by the property. At the time of the$$ purchase, the outstanding mortgage on her principal residence is

$ $600$ comma $000$$$600,000.$

This debt is secured by the residence. The fair market value$($FMV$)$ of the principal residence is

$ $1$ comma $600$ comma $000$$$1,600,000.$

She purchased the principal residence in $2018.$

Requirement

What is the amount of qualified indebtedness on which

TabithaTabitha

may deduct the interest$$ payments?