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In the current year, Anita Mann, a single individual filing head of household, bought a main home and paid interest of $20,000 on a $500,000
In the current year, Anita Mann, a single individual filing head of household, bought a main home and paid interest of $20,000 on a $500,000 mortgage on the home. She also purchased a second home and paid interest of $12,000 on a $350,000 mortgage. In addition, she paid finance charges of $1,600 on a personal bank credit card used to buy new furniture for the homes.
Calculate her interest deduction, if any, on Schedule A. If necessary, round your answer to the nearest dollar.
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