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art 1 of 2 Required information [The following information applies to the questions displayed below) This year Rondy paid $30,250 of interest on his residence.
art 1 of 2 Required information [The following information applies to the questions displayed below) This year Rondy paid $30,250 of interest on his residence. (Randy borrowed $480,000 to buy his residence, and it is currently worth $530,000.) Randy also paid $3,250 of interest on his car loan and $5,325 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? 76 its Print a. Randy received $2,800 of interest this year and no other investment income or expenses. His AGI is $75,000 ferences Interest deductible Required information [The following information applies to the questions displayed below.) This year Randy paid $30,250 of interest on his residence. (Randy borrowed $480,000 to buy his residence, and it is currently worth $530,000.) Randy also paid $3,250 of interest on his car loan and $5,325 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? b. Randy had no investment income this year, and his AGI is $75,000 5 Interest deductible
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