Ken paid the following amounts for interest during 2016: Qualified interest on home mortgage .......................................................... $4,800 Auto
Question:
Ken paid the following amounts for interest during 2016:
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.
Step by Step Answer:
Income Tax Fundamentals 2017
ISBN: 9781305872738
35th Edition
Authors: Gerald E. Whittenburg, Steven Gill, Martha Altus Buller