Question: on Dec 1 , 2 0 2 4 , Kara, a self employed cash - basis taxpayer, borrowed $ 7 5 , 0 0 0

on Dec 1,2024, Kara, a self employed cash-basis taxpayer, borrowed $75,000 to use in her business. The loan was due on November 30,2025. Kara paid the entire interest amount of $12,000 on December 1,2024. What amount of interest is deductible on Kara's 2024 income tax return

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