McGraw-Hill's Taxation of Individuals and Business Entities 3rd Edition by Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

تمرين 45

Juanita owns a principal residence in New Jersey, a cabin in Montana, and a houseboat in Hawaii.All of these properties have mortgages on which Juanita pays interest.What limits, if any, apply to Juanita's mortgage interest deductions? Explain whether deductible interest is deductible for AGI or from AGI?