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Augustus1 Augustus1
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7 years ago
Wayne and Maria purchase a home on April 1 of the current year.  In order to obtain a thirty-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?
A) $4,400
B) $4,580
C) $7,200
D) $11,600
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


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

Prentice Hall's Federal Taxation by Kramer
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MsLippyMsLippy
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Augustus1 Author
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#2
7 years ago
Your explanation helped, amazing amazing!
We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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