shaynatjohnson shaynatjohnson

21-01-2024
Business

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Greg Grove pays $50,000 interest in 2023 on his mortgage on his principal residence. It has an interest rate of 4 percent and balance of $1,250,000 during the year. He took out the mortgage in 2022. How much of this interest is deductible on Greg’s tax return for 2023?

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