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 2012 tax year. His adjusted gross income is $80,000. He had net investment income of $9,000. In 2012, 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 2012 tax year?

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Accounting Basics: What is the interest deduction for bob

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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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Accounting Basics: What is the interest deduction for bob

Reference No:- TGS0692389

Recent Questions Asked Accounting Basics

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