Teri pays the following interest expenses during the year: What is the amount of interest expense that can be deducted as an itemized deduction?
A) $10,500
B) $10,900
C) $14,300
D) $14,700

Question

Teri pays the following interest expenses during the year:  What is the amount of interest expense that can be deducted as an itemized deduction?
A) $10,500 
B) $10,900 
C) $14,300 
D) $14,700

Quizplus · Accepted Answer

11eac5e3_b0b3_c208_a396_ffb2df4753b4_TB5639_00 Personal interest is not deductible. Interest for the business is deducted as a for AGI deduction on the Schedule C.

Teri Pays the Following Interest Expenses During the Year