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D Question 29 2.5 pts Mr. and Mrs. Loeffler made the following interest payments during 2020: a. $20,000 on a $600,000 mortgage used to
D Question 29 2.5 pts Mr. and Mrs. Loeffler made the following interest payments during 2020: a. $20,000 on a $600,000 mortgage used to purchase their home. The loan was taken out in 2015. b. $5,000 on a $100,000 second mortgage secured by their personal residence. The Allens took out this loan in 2020 and used the proceeds to remodel their kitchen. c. $4,000 on credit card debt. d. $2,500 on a bank loan incurred to purchase a new family car. e. $3,000 on an unsecured bank loan incurred in 2019 to pay for a new roof on their personal residence. Determine their total itemized deduction for interest expense?
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