Ms Lopez Paid $7,260 Interest on a Mortgage on Undeveloped

question 87

Multiple Choice

Ms. Lopez paid $7,260 interest on a mortgage on undeveloped land that she holds as an investment. Ms. Lopez's AGI is $112,200, which includes $4,900 interest income from a certificate of deposit. Which of the following statements is true?

• A) Ms. Lopez can't deduct any of the $7,260 interest expense.
• B) Ms. Lopez can deduct $7,260 interest expense as an itemized deduction.
• C) Ms. Lopez can deduct $4,900 interest expense as an itemized deduction.
• D) Ms. Lopez can deduct $4,900 interest expense as an above-the-line deduction.

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Legislation intended to prevent lynching, a form of violent, extrajudicial punishment typically motivated by racial prejudice, though historically such laws have been difficult to enforce.

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Congress of Industrial Organizations, a federation of unions that organized workers in industrial unions in the United States and Canada from 1935 to 1955.

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People of Mexican ancestry residing in the United States, who have contributed significantly to American culture, economy, and society, while also facing challenges related to identity and integration.