Ken paid the following amounts for interest during 2018: 3 Qualified interest on home mortgage.................$4,800 Auto loan

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Ken paid the following amounts for interest during 2018: 3

Qualified interest on home mortgage.................$4,800 

Auto loan interest.................850 

“Points” on the mortgage for acquisition of his personal residence.................400 

Service charges on his checking account.................40 

Mastercard interest.................300

Calculate Ken’s itemized deduction for interest on the following portion of Schedule A. 

Interest You 8 Home mortgage interest and points. If you didn't use all of your home mortgage loan(s) to buy, build, or

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Income Tax Fundamentals 2019

ISBN: 9781337703062

37th Edition

Authors: Gerald E. Whittenburg, Steven Gill

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