ok This year Randy paid $31,450 of interest on his residence. (Randy borrowed $496,000 to buy his residence, which is currently worth $546,000.) Randy also paid $3,650 of interest on his car loan and $5,925 of margin interest to his stockbroker (investment interest expense). How much of this interest expense can Randy deduct as an itemized deduction under the following circumstances? a. Randy received $3,120 of interest this year and no other investment income or expenses. His AGI is $75,000. Interest deductible

This year Randy paid $31,450 of interest on his residence. (Randy borrowed $496,000 to buy his residence, which is currently worth $546,000 ) Randy also poid $3.650 of interest on his car loan and $5,925 of marpin interest to his stockbroker (investment interest expense). How much of this interest expense can Randy deduct as an itemized deduction under the following circumstances? a. Randy recelved $3,120 of interest this year and no other investment income or expenses. His AG1 is $75,000. This year Randy paid $31,450 of interest on his residence. (Randy borrowed $496.000 to buy his residence, which is currently worth $546,000.) Randy also paid $3,650 of interest on his car loan and $5,925 of margin interest to his stockbroker (investment interest expense). How much of this interest expense can Randy deduct as an itemized deduction under the following circumstances? b. Randy had no investment income this year, and his AGI is $75,000