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Augustus1 Augustus1
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7 years ago
Teri pays the following interest expenses during the year:

Home mortgage interest on personal residence   $8,500
Credit card interest on personal purchases   550
Interest on loans used to purchase investments (Net investment
income is $2,000)   2,400
Interest on loans used for a business conducted as a sole proprietorship   3,800
Interest on a credit card used exclusively in the business   470

What is the amount of interest expense that can be deducted as an itemized deduction?
A) $10,500
B) $10,900
C) $14,300
D) $14,700
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
Authors:
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We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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Yoko900Yoko900
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Augustus1 Author
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#2
7 years ago
I needed this so bad, I'm laughing right now from happiness
We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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