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19) Taxpayer paid mortgage interest of $30,000 during 2020. The mortgage was created on 01.01.18 The outstanding principal balance on taxpayer's mortgage at year end

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19) Taxpayer paid mortgage interest of $30,000 during 2020. The mortgage was created on 01.01.18 The outstanding principal balance on taxpayer's mortgage at year end is $500,000. What amount can taxpayer include in her itemized deductions for 2020? a. 30,000 b. 22,500 c. 7,500 d. 0 I Taxpayer has activity from various schedules K-1 as follows: 2,000 Income - active 5,000 Loss - active 10,000 Income - passive 8,000 passive carryforward from the prior year

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