1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Ahat [919]
3 years ago
5

At the end of 2019, Mark owes $250,000 on the mortgage related to the 2016 purchase of his residence. When his daughter went to

college in the fall of 2019, he borrowed $20,000 through a home equity loan on his house to help pay for her education. The interest expense on the main mortgage is $15,000, and the interest expense on the home equity loan is $1,500. How much of the interest is deductible as an itemized deduction?
Mathematics
1 answer:
grandymaker [24]3 years ago
6 0

Answer:

  $15,000

Step-by-step explanation:

The $1500 interest on a home equity loan used for purposes other than home improvement is not deductible with other home loan interest as an itemized deduction.

However, the interest on a loan for qualified educational expenses may be considered an adjustment to income, within limits.

Only the $15,000 main mortgage interest can be an itemized deduction.

You might be interested in
Translate this sentence into an equation. 62 is the sum of 12 and Chrissy's age. Use the variable c to represent Chrissy's age.
Greeley [361]
62= 12+c

Which your answer is 50 cause if you take 62 and subtract it to 12 it's 50. So 50 + 12 = 62
5 0
4 years ago
Selina is playing a game that uses the spinner below.
MatroZZZ [7]

Answer:

A) 12.5%

B) 50%

C) 50%

Step-by-step explanation:

For A, 7 is one of the 8 possibilities (1/8). 1/8 of 100 is 12.5, so your chance of spinning a 7 is 12.5%

For B, even numbers are 4/8 or 1/2 of your options. 1/2 of 100 is 50, so your chance of spinning an even number is 50%

For C, there are 4 out of 8 numbers that are prime (2,3,5, & 7).

4/8 or 1/2 of 100 is 50, so your chance of spinning a prime number is 50%

hope this helps

4 0
4 years ago
I need to know what is 18f=-216
mamaluj [8]

Divide 18 to both sides and you get -12

8 0
3 years ago
There were 976 students that attended assemblies on bullying prevention throughout the
AveGali [126]

Answer:

245+368=?-976

Step-by-step explanation:

3 0
3 years ago
If a car can go 33 miles on a gallon of gas, how much gas will it use for 198 miles?
Anni [7]
Just do 198 divide by 33. The answer is how much gas will be used.
7 0
3 years ago
Read 2 more answers
Other questions:
  • The property taxes on a boat were $2,883. What was the tax rate if the boat was valued at $175,000? Round your answer to the nea
    14·1 answer
  • URGENT!!
    8·2 answers
  • A scale on a hiking map shows that 333 inches represents 1.251.251, point, 25 miles.
    12·2 answers
  • Imagine that the mean height for players in all Division I women's basketball programs is 69 inches with a standard deviation of
    9·1 answer
  • What is the ratio for sin Y if tan Y = 8/15?
    14·1 answer
  • This figure to solve the problems.
    14·1 answer
  • A taxi charges $3.00 to pick you up and $1.00 for every mile driven. How could
    9·2 answers
  • Plz help me with this
    10·1 answer
  • Please help me! I will give brainliest
    9·1 answer
  • Identify the mode: 59, 46, 42, 54, 63, 63, 71, 39, 51, 49, 72, 77,<br> 61,53
    8·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!