In 2013 chip and jane wood paid 83700 interest on a, Financial Management

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In 2013 chip and jane wood paid 83700 interest on a

In 2013, Chip and Jane Wood paid $83,700 interest on a mortgage they incurred to build their home in Charleston, SC. The average principal balance of the mortgage was $1,430,000. The home has an appraised FMV of only $1,200,900. Compute Chip and Jane’s itemized deduction for their home mortgage interest.

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Financial Management: In 2013 chip and jane wood paid 83700 interest on a

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