What is the interest deduction for bob, Accounting Basics

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What is the interest deduction for bob

Bob filed a single return for the 2010 tax year. His adjusted gross income is $80,000. He had net investment income of $9,000. In 2010, he had the following interest expenses:

Personal credit card interest: $4,000
Home mortgage interest: $8,000
Qualified mortgage insurance premiums: $1,500
Investment interest (on loans used to buy stocks): $10,000

What is the interest deduction for Bob for the 2010 tax year?

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Accounting Basics: What is the interest deduction for bob

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Recent Questions Asked Accounting Basics

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Ask an Expert for Answer!!

Accounting Basics: What is the interest deduction for bob

Reference No:- TGS052646

Recent Questions Asked Accounting Basics

Q : What is mark''s rental income for 2011

Q : How would the owner organize the production

Q : Approximate cash collection for the quarter

Q : Explain the returns to scale and marginal product of input

Q : What is the interest deduction for bob

Q : How changes in money supply used to keep interest rates

Q : What is the amount of josh''s gain on the sale

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