2 QUESTIONS This year, Sally, winyle taxpayer, purchased a sailboat for 100,000 using home equity...
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Accounting
2 QUESTIONS This year, Sally, winyle taxpayer, purchased a sailboat for 100,000 using home equity low of $350,000 on her principal residence. The without does not qualify residence. She has no other debt on her principal residence, Sally paid 55,000 of interest on the debt this year. How much of this interest is deductible assuming that Sally itemize her deductions? Oa $100.000 Ob S10,000 Oc55.000 O d. 50 Oe. None of the above
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