Required Informatlon The following information applies to the questions displayed belowJ and Anita Sanchez purchased...
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Required Informatlon The following information applies to the questions displayed belowJ and Anita Sanchez purchased a home on January 1 of year 1 for $1,000,000 by paying $200,000 down and borrowing the remaining $800,000 with a 6 percent loan secured by the home. The Sanchezes made interest only payments on the loan in years 1 and 2. (Leave no answer blank. Enter zero If applicable . Assuming year 1 is 2017, how much interest would the Sanchez's deduct in year 2? deductible interest expense
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