Tax MCQ
Personal Income Tax Chapter 14
On March 31, 2015, Mary borrowed $200,000 to buy her principal residence. Mary paid 3 points to reduce her interest rate from 6 percent to 5 percent. The loan is for a 30-year period. What is Mary's 2015 deduction for her points paid?
On March 31, 2015, Mary borrowed $200,000 to buy her principal residence. Mary paid 3 points to reduce her interest rate from 6 percent to 5 percent. The loan is for a 30-year period. What is Mary's 2015 deduction for her points paid?
On March 31, 2015, Mary borrowed $200,000 to buy her principal residence. Mary paid 3 points to reduce her interest rate from 6 percent to 5 percent. The loan is for a 30-year period. What is Mary's 2015 deduction for her points paid?
A. $50
B. $150
C. $4,500
D. $6,000
Answer: D
Learn More :
