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Amanda [17]
3 years ago
6

This year, Major Healy paid $40,000 of interest on a mortgage on his home (he borrowed $800,000 to buy the residence in 2015; $9

00,000 original purchase price and value at purchase), $6,000 of interest on a $120,000 home equity loan on his home (loan proceeds were used to buy antique cars), and $10,000 of interest on a mortgage on his vacation home (borrowed $200,000 to purchase the home in 2010; home purchased for $500,000). Major Healy’s AGI is $220,000. How much interest expense can Major Healy deduct as an itemized deduction?
Business
1 answer:
icang [17]3 years ago
5 0

Answer:

$50,000

Explanation:

The computation of the interest expense for deduction is shown below:

= Interest on a mortgage on his home + Interest on a mortgage on his vacation home  

= $40,000 + $10,000

= $50,000

All other information which is given in the question is not relevant for the computation part. Hence, ignored it  

We simply add both types of interest related to a mortgage on the home

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Answer:

The answer is stated below:

Explanation:

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Then generate or create a list of as many as possible of alternative suppliers.

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Deciding or choosing the limited number of alternatives , this concept is known as the bounded rationality. For most of the businesses, this is the most realistic approach for dealing with alternatives.

5 0
3 years ago
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Anuta_ua [19.1K]

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3 years ago
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Tom [10]

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5 0
3 years ago
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ale4655 [162]

Answer:

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Explanation:

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Delicious77 [7]
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Read 2 more answers
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