Consider the settlement statement in Appendix A to this chapter. What amounts on the statement are the
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Consider the settlement statement in Appendix A to this chapter. What amounts on the statement are the Jeffersons allowed to deduct on their 2016 tax return? Indicate the settlement statement line number for each deductible amount (discuss any issues that must be addressed to determine deductibility) and label each deduction as a for AGI deduction or as a from AGI deduction.
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Line 801 Loan origination fees 3000 for AGI deduction as qualified residence interest Line 802 Loan discount 6000 for AGI deduction as qualified resid...View the full answer
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Related Book For 
Taxation Of Individuals 2017
ISBN: 9781259548666
8th Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
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