Shane and Alyssa (A Married Couple)have AGI of $345,000 in 2017.They

question 59

Multiple Choice

Shane and Alyssa (a married couple) have AGI of $345,000 in 2017.They bought a house this year and paid $16,000 of interest expense on the mortgage and paid $6,500 of property taxes.They will be allowed a deduction from AGI of

• A)$21,489.
• B)$22,500.
• C)$19,995.
• D)$21,564.

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Definitions:

First Marriages

The initial nuptial union of an individual, as opposed to second or subsequent marriages.

Sociologists

Professionals who study social behavior, society, patterns of social relationships, social interaction, and cultures that shape our experiences in society.

Stepfamily

A household in which at least one parent is raising children from a past relationship.

Cohabiting Couples

Couples who live together in a romantic relationship but are not legally married.