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Business, 03.05.2021 22:50 sanakhalid8881

Margaret Lindley paid $15,120 of interest on her $301,200 acquisition debt for her home (fair market value of $501,200), $4,120 of interest on her $30,120 home-equity debt, $1,120 of credit card interest, and $3,120 of margin interest for the purchase of stock. Assume that Margaret Lindley has $10,120 of interest income this year and no investment expenses. How much of the interest expense may she deduct this year

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Margaret Lindley paid $15,120 of interest on her $301,200 acquisition debt for her home (fair market...
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