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Steve and Marian purchase a new condominium in Manhattan on February 1, 2018 to use as their primary residence. The purchase price of the condominium
Steve and Marian purchase a new condominium in Manhattan on February 1, 2018 to use as their primary residence. The purchase price of the condominium is $1.5 million. The couple obtained a $1.0 million mortgage rom he bank and paid the balance n cash. On their tax return e le be allowed an emi ed deduction for interest expense on a principal balance of up to OA. $500,000. O B. $1.0 illion. O C. $1.5 million. O D. $750,000
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