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13) A taxpayer purchases a home in 2021 in which the loan is $1,000,000. The interest paid on the loan is $10,000. How much is
13) A taxpayer purchases a home in 2021 in which the loan is $1,000,000. The interest paid on the loan is $10,000. How much is deductible>? a. $10,000 b. $2500 C. $7500 d. Some other amount
14) A single taxpayer sells his home which he owns for a gain of $300,000 in which he has lived 18 months. The taxable portion is a. $50,000 b. $0 c. $300,000 d. Some other amount
15) Donations over what amount require form 8283? a. $1000 b. $500 C. $250 d. Some other amount
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