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Dorothie paid the following amounts during 2016: Interest on her home mortgage $9,250 Service charges on her checking account 48 Visa and Mastercard interest 168

Dorothie paid the following amounts during 2016:

Interest on her home mortgage $9,250

Service charges on her checking account 48

Visa and Mastercard interest 168

Automobile loan interest 675

Interest on a loan to buy stock 1,600

Credit investigation fee for a loan 75

Dorothie’s residence has a fair market value of $150,000.

The mortgage balance is $125,000, which is a loan that was acquired in 2000 when she purchased her home. Dorothie has $1,000 of net investment income. Use the Interest You Paid section of Schedule A on Page 5-5 to calculate Dorothie’s interest deduction for the current year.


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