1.

2.

Required information [The following information applies to the questions displayed below.) This year, Randy paid $29,350 of interest on his residence. (Randy borrowed $468,000 to buy his residence, and it is currently worth $518,000.) Randy also paid $2,950 of interest on his car loan and $4,875 of margin interest to his stockbroker (investment interest expense). How much of this interest expense can Randy deduct as an itemized deduction under the following circumstances? a. Randy received $2,560 of interest this year and no other investment income or expenses. His AGI is $75,000 Interest deductible Required information [The following information applies to the questions displayed below.) Stephanie is 12 years old and often assists neighbors on weekends by babysitting their children. Calculate the 2019 standard deduction Stephanie will claim under the following independent circumstances (assume that Stephanie's parents will claim her as a dependent). of 2 a. Stephanie reported $1,050 of earnings from her babysitting, Standard deduction Required information [The following information applies to the questions displayed below.) Stephanie is 12 years old and often assists neighbors on weekends by babysitting their children. Calculate the 2019 standard deduction Stephanie will claim under the following independent circumstances (assume that Stephanie's parents will claim her as a dependent). c. Stephanie reported $17,805 of earnings from her babysitting, Standard deduction