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Author Question: Valeria owns a home worth $1,400,000, with a mortgage balance of $950,000. She borrows $200,000 to ... (Read 41 times)

fbq8i

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Question 1

Valeria owns a home worth $1,400,000, with a mortgage balance of $1,050,000. She borrows $200,000 to purchase a speedboat, using a home equity loan. What is the total amount of debt on which Valeria can deduct interest in the current year?
◦ $1,000,000
◦ $1,150,000
◦ $1,050,000
◦ $1,100,000

Question 2

Valeria owns a home worth $1,400,000, with a mortgage balance of $950,000. She borrows $200,000 to purchase a speedboat, using a home equity loan. What is the total amount of debt on which Valeria can deduct interest in the current year?
◦ $1,000,000
◦ $950,000
◦ $1,050,000
◦ $1,100,000


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Marked as best answer by fbq8i on Sep 13, 2020

guyanai

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fbq8i

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Reply 2 on: Sep 13, 2020
YES! Correct, THANKS for helping me on my review


komodo7

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Reply 3 on: Yesterday
Excellent

 

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