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MEWORK - CHAPTER 13 i Saved Help 10 Barbara is single and owns a home in the city, which is her primary residence. She also
MEWORK - CHAPTER 13 i Saved Help 10 Barbara is single and owns a home in the city, which is her primary residence. She also owns a cottage at the beach, which she treats as a vacation home. In April 2023, she borrowed $50,000 on a home equity loan and used the proceeds to pay off credit card obligations and other debt. She paid the following in 2023: Mortgage interest (personal residence) $ 15,ee0 oints Mortgage interest (cottage) 8, eve Interest on the home equity loan 5, eve Interest on credit card 2,500 Skipped Required: Calculate any AMT adjustment concerning interest in 2023. eBook Note: Input all the values as positive numbers. Leave no cells blank - be certain to enter "0" wherever required. Pninit References Regular Taxable Interest AMT Adjustment Deduction Mortgage interest for residence Vacation cottage Home equity loan Credit card O S O S Interest SHunter has a $38,000 loss from an investment in a partnership in which he does not participate. His basis in the interest is $35,000. Required: a. How much of the loss is disallowed by the at-risk rules? b. How much of the loss is disallowed by the passive loss rules? its Amount Skipped eBook Print References
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