Multiple Choice
Which of the following interest expense amounts is not deductible 2016?
A) Education loan interest of $2,000, assuming the taxpayer is single and has income of $150,000.
B) Home equity loan interest of $9,000 on a loan of $100,000, the proceeds of which were used to purchase a vacation home.
C) Investment interest expense of $10,000, assuming the taxpayer has $15,000 of investment income.
D) Points of $2,000 paid on a mortgage loan for the purchase of a new principal residence.
Correct Answer:
Verified
Correct Answer:
Verified
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