Leslie and Jason, who are married, paid the following expenses during 2016: Interest on a car loan

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Leslie and Jason, who are married, paid the following expenses during 2016:
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 2016?
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Fundamentals Of Taxation 2017

ISBN: 9781259752735

10th Edition

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

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