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GREYUIT [131]
3 years ago
11

Which of the following is deductible as interest on Schedule A? a.Interest on a loan for a 90-foot yacht (a qualified residence)

with a kitchen, 3 baths and 5 bedrooms. b.Interest on loans to finance tax-exempt bonds. c.Loan fees that are not "points". d.Fees for having a new home inspected prior to purchase. e.None of these choices are deductible as interest.
Business
1 answer:
vodomira [7]3 years ago
5 0

Answer:

Correct option is A.

<u>Interest on a loan for a 90-foot yacht (a qualified residence) with a kitchen, 3 baths and 5 bedrooms</u>

Explanation:

Assesses are permitted a conclusion for unmistakable intrigue paid or collected during the expense year. Sum and sort of derivation is reliant intentionally for which cash is obtained. Enthusiasm on credit for lease, business and eminence exercises is deducted for balanced gross pay. Enthusiasm on credit if there should be an occurrence of individual utilise like speculation intrigue, qualified home intrigue, contract intrigue prepayment punishments, intrigue identified with aloof action. Enthusiasm on credit used for buying resources producing charge excluded salary isn't deductible.

 

Following interest is not deductible as an itemised deduction:

1. Credit investigation fees

2. Service charges

3. Premium on convertible bonds

4. Interest paid to carry single premium life insurance  

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6 0
1 year ago
____ are long-term, low-interest loans, cash grants, and tax deductions used to develop and protect companies or special industr
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3 0
3 years ago
You observe that the inflation rate in the United States is 1.5 percent per year and that T-bills currently yield 2.0 percent an
Kamila [148]

Answer:

(a) 7.5%

(b) 8.5%

(c) 9.5%

Explanation:

(a) Foreign country inflation rate - US inflation rate = Foreign country risk free rate - US risk free rate

Lets foreign country inflation rate = X

X - 1.5 = 8 - 2

X - 1.5 = 6

X = 6 + 1.5

   = 7.5%

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Lets foreign country infllation rate = X

X - 1.5 = 9 - 2

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   = 8.5%

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X = 7 + 1.5

   = 9.5%

6 0
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