gabrielleteti
08.10.2019 •
Business
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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Ответ:
Answer and Explanation:
The indication of the following items reported on the income statement is presented below:
1. Not applicable as it is not shown on the statement
2. Not applicable as it is not shown on the statement
3. It is to be added and the same is to be shown in the cash flow from investing activities
4. . It is to be added and the same is to be shown in the cash flow from operating activities
In this way it is to be done