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Wayne and Maria purchase a home on April 1 of the current year. In order to obtain a 30 year mortgage, they are required to
Wayne and Maria purchase a home on April 1 of the current year. In order to obtain a 30 year mortgage, they are required to pay $7,200 in points at closing. Charging points is a customary business practice in the area. In addition, they pay $4,400 of interest during the year. What is their current year deduction related to their home?
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
