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Amy Paid the Following Interest Expense During the Current Year

Question 106

Multiple Choice

Amy paid the following interest expense during the current year:  Qualified home mortgage interest $5,000 Credit card interest $1,000 Personal bank loan interest $3,000\begin{array}{ll}\text { Qualified home mortgage interest } & \$ 5,000 \\\text { Credit card interest } & \$ 1,000 \\\text { Personal bank loan interest } & \$ 3,000\end{array}
What is the amount of Amy's interest deduction for the current year?


A) $8,000
B) $3,000
C) $4,000
D) $5,000
E) $6,000

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