Mortgage Interest Paid on a Mortgage Obtained to Buy a Principal

question 121

True/False

Mortgage interest paid on a mortgage obtained to buy a principal residence,deductible for regular income tax purposes,is also an allowable deduction for AMT.

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Definitions:

Return on Investment

A measure of the profitability of an investment, calculated by dividing the net gains from the investment by its cost.

Investment Turnover

A ratio measuring how efficiently a company generates sales from its inventory investments.

Profit Margin

A financial metric expressing the percentage of revenue that remains as profit after all operating expenses are deducted.

Return on Investment

A financial metric used to measure the efficiency of an investment, calculated by dividing the profit gained from the investment by its cost.