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Business, 08.10.2019 19:00 bmartinez26

This year, randy paid $28,300 of interest on his residence. (randy borrowed $454,000 to buy his residence, and it is currently worth $504,000.) randy also paid $2,600 of interest on his car loan and $4,350 of margin interest to his stockbroker (investment interest expense). how much of this interest expense can randy deduct as an itemized deduction under the following circumstances? a. randy received $2,280 of interest this year and no other investment income or expenses. his agi is $75,000.

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This year, randy paid $28,300 of interest on his residence. (randy borrowed $454,000 to buy his resi...

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