Business, 08.07.2020 17:01 alphonsobedford7534

Margaret Lindley paid $15,160 of interest on her $301,600 acquisition debt for her home (fair market value of $501,600), $4,160 of interest on her $30,160 home-equity loan which was towards the purchase of a personal-use automobile, $1,160 of credit card interest, and $3,160 of interest on a loan used for the purchase of stock. Assume that Margaret Lindley has $10,160 of interest income this year and no investment expenses. How much of the interest expense may she deduct this year

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Margaret Lindley paid $15,160 of interest on her $301,600 acquisition debt for her home (fair market...