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Sierra gets a Home mortgage loan for $900,000, as part of her purchase of a new house near GreenLake for $1,000,000. During 2022, she paid
Sierra gets a Home mortgage loan for $900,000, as part of her purchase of
a new house near GreenLake for $1,000,000. During 2022, she paid a total of $36,000 in interest to the bank on this loan. How much can she claim for her home mortgage interest expense on Schedule A ?
a. $36,000
b. $30,000
c. $27,000
d. $18,000
18. Sierra also had to pay $12,000 in real-property taxes on this new home for 2022. How much can she claim on Schedule A? (Hint check the Instructions for Schedule A)
a. $12,000
b. $10,000
c. $ 8,000
d. $ 6,000
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