Because Scott is three months delinquent on the mortgage payments for his personal residence, Jeanette...
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Accounting
Because Scott is three months delinquent on the mortgage payments for his personal residence, Jeanette (his sister) is going to cover the arrearage. Based on past experience, she does not expect to be repaid by Scott. Which of the following statements is correct?
a. If Scott receives the money from Jeanette and pays the mortgage company, Jeanette can deduct the interest part. b. If Jeanette pays the mortgage company directly, neither Scott nor Jeanette can deduct the interest part.
c. If Jeanette pays the mortgage company directly, she cannot deduct the interest part.
d. Only b. and c. are correct.
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