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Question 1921 pts On 6/1/2021, Julian took out a $100,000 cash-out refinance mortgage loan on...

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Accounting

Question 1921 pts

On 6/1/2021, Julian took out a $100,000 cash-out refinance mortgage loan on his primary residence. He used the $100,000 to go over a vacation and buy an automobile. In 2021, he repaid $5,000 toward the principle on the $100,000 cash-out refinance mortgage loan, and paid $750 in interest toward that same loan. In 2021, how much of a miscellaneous itemized deduction can Julian take for the payments to the cash-out refinance mortgage loan that he obtained on 6/1/2021?

Group of answer choices

$5,000

$5,750

$0

$750

Answer & Explanation Solved by verified expert
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