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Required Informetion The following information applies to the questions displayed below Javier and Anlta Sanchez purchased a home on January 1 of year 1 for
Required Informetion The following information applies to the questions displayed below Javier and Anlta Sanchez purchased a home on January 1 of year 1 for $1,000,000 by paylng $200,000 down and borrowing the remalning $800,000 with a 6 percent loan secured by the home. The Sanchezes made Interest only payments on the loan In years 1 and 2 (Leave no answer blank. Enter zero If applicable.) b. Assuming year 1 is 2018, how much Interest would the Sanchez's deduct in year 2? Maximum deductible interest expense
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