If her interest expense for the year is 100000 how much
Cathy buys a house (her principal residence) for $2,500,000, paying $500,000 down and borrowing the other $2,000,000 at 5% interest. If her interest expense for the year is $100,000, how much will her maximum deduction for interest expenses be?
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cathy buys a house her principal residence for 2500000 paying 500000 down and borrowing the other 2000000 at 5 interest
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