only answer no explanation

1.Larry owns a personal residence with a FMV of $695,000 and an outstanding first mortgage of $320,450. On July 1, 2020, Larry borrows $82,000 that is secured by a second mortgage on his home to put an addition on his home as he and his wife are expecting their second child and are in need of more space for their children. He was able to borrow the cash at 3.5% interest rate. Larry files a federal tax return as married filing jointly. He reported an income of $68,000 for the year; loss of $65,000 on the sale of section 1244 stock acquired two years ago and he has an interest income of $6,000.

How much interest can Larry deduct? Round you answer to the nearest dollar.

2.Alexandra, a senior manager at the local CPA firm in her hometown is single and looking to buy a new house near her place of employment so that she can cut down on her daily commute and spend more time taking care of her elderly parents. In addition, watching her parents financial situation change over the years, she decided to take the time to learn about various retirement plans via her employer, her personal research and talking to friends and coworkers. Finally, she had decided it was time she contributed to her Roth IRA. She selected this particular retirement plan option as it suited her lifestyle the most. She would like to contribute $6,000 to her Roth IRA in 2020. Her salary is $144,000. In addition, she did some investing and earned an interest income on U.S. Treasury Bonds of $8,000 and interest income on New York state bonds is $12,000. She also had a loss on theft of securities is $10,000.

What is Alexandra's Roth IRA contribution deduction? Round you answer to the nearest dollar.

3.Daniel had AGI of $45,000 for 2020. He was injured in a car accident and paid $4,225 for hospital expenses and $1,878 for doctor bills. Daniel also incurred medical expenses of $517 for his dependent child. In 2021, Daniel was reimbursed $849 by his insurance company for the medical expenses attributable to the car accident. Sharon made a $60,000 interest-free loan to Daniel who used the money to pay for the medical bills. Daniel's other source of income were $25,000 from the business and $490 of interest on his checking account. The relevant Federal interest rate is 5%. The loan was outstanding for the entire year. If the reimbursement for medical care had occurred in 2020, how much would his medical expense deduction have been? Round you answer to the nearest dollar

4.In the current year, Michael takes a trip from New York to France. He frequently travels for business and this time he is away from home from September 10 through September 19.

He spends 3 days playing golf and meeting up with his friends from France to take the opportunity to practice the language. He also took the opportunity to purchase gifts for his wife and children, spending a total of $349. He also spends 5 days (and 2 travel days) conducting business and also considering purchasing another house for vacation purposes. His airfare is $3,870, his meals amount to $186 per day, and lodging and incidental expenses are $298 per day. He learned that it is easier to handle rent and other payments while working abroad, if he has banking arrangements in this country. In March and April of this year, during one of his frequent trips, he opened an account in Germany and one in France. Each started with a $7,550 deposit. What are Michael's deductions for the year? Round your answer to the nearest dollar.