Janet and Andrew paid the following amounts during 2011: What is the maximum amount they can use as interest expense in calculating itemized deductions for 2011?

Question

Janet and Andrew paid the following amounts during 2011:  What is the maximum amount they can use as interest expense in calculating itemized deductions for 2011?

Quizplus · Accepted Answer

The maximum amount they can use as interest expense in calculating itemized deductions for 2011 is $10,000, which is the limit for mortgage interest on a primary residence and a second home.

Janet and Andrew Paid the Following Amounts During 2011