Leslie and Jason paid the following expenses during 2015: Interest on a car loan...................................................................$ 100 Interest on

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Leslie and Jason paid the following expenses during 2015:

Interest on a car loan...................................................................$ 100

Interest on lending institution loan

(used to purchase municipal bonds)......................................... 3,000

Interest on home mortgage........................................................2,100

(Home mortgage principal is less than $1,000,000)

What is the maximum amount that they can use in calculating itemized deductions for 2015?

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Fundamentals Of Taxation 2016

ISBN: 9781259812774

9th Edition

Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone

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