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Mr. Longwood paid interest in 2023 as follows: ABC Bank (personal car loan) 1,000 ABC Bank (mortgage of $1,250,000 to purchase principal residence in 2022)
Mr. Longwood paid interest in 2023 as follows: ABC Bank (personal car loan) 1,000 ABC Bank (mortgage of $1,250,000 to purchase principal residence in 2022) 50,000 TD Ameritrade (Investment Interest) 10,000 Investment Income ($8,000) What is the maximum amount (after all limitations) that Mr. Longwood can deduct for interest on Schedule A?
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Introduction To Federal Income Taxation In Canada
Authors: Robert E. Beam, Stanley N. Laiken, James J. Barnett
33rd Edition
1554965020, 978-1554965021
