Leslie and Jason, who are married, paid the following expenses during 2018: Interest on a car loan

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Leslie and Jason, who are married, paid the following expenses during 2018:

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 $750,000)

What is the maximum amount that they can use in calculating itemized deductions for 2018?

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Fundamentals Of Taxation 2019

ISBN: 9781260158670

12th Edition

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

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Question Posted: Jun 03, 2019 05:06 AM

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Leslie and Jason, who are married, paid the following expenses during 2018: Interest on a car loan

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Car Loan No deduction Interest on munibond loan No deduction Interest on Home Mortgage 2100 D...View the full answer

Fundamentals Of Taxation 2019

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