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Problem 5-23 Interest (LO 5.8) Ken paid the following amounts for interest during 2019: Qualified interest on home mortgage per Form 1098 Auto loan
Problem 5-23 Interest (LO 5.8) Ken paid the following amounts for interest during 2019: Qualified interest on home mortgage per Form 1098 Auto loan interest $5,322 850 "Points" on the mortgage for acquisition of his 400 personal residence per Form 1098 Service charges on his checking account Mastercard interest 40 300 Calculate Ken's itemized deduction for interest on the following portion of Schedule A. If a line item is zero, enter "0". Enter all amounts as positive numbers. Interest You Paid Caution: Your mortgage interest deduction may be limited (see instructions). 8 Home mortgage interest and points. If you didn't use all of your home mortgage loan(s) to buy, build, or improve your home, see instructions and check this box 04 a Home mortgage interest and points reported to you on Form 1098 See instructions if limited b Home mortgage interest not reported to you on Form 1098. If paid to the person from whom you bought the home, see instructions and show that person's name, identifying no., and address-> 8a 0 X
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