Ted,who Is Single,owns a Personal Residence in the City

question 68

Multiple Choice

Ted,who is single,owns a personal residence in the city.He also owns a condo near the ocean.He uses the condo as a vacation home.In March 2015,he borrowed $50,000 on a home equity loan and used the proceeds to acquire a luxury automobile.During 2015,he paid the following amounts of interest. ​ ∙ on his personal residence $15,500 ∙ on the condo 6,200 ∙ on the home equity loan 4,800 ∙ on credit card obligations 1,700 What amount,if any,must Ted recognize as an AMT adjustment in 2015?

• A)$0
• B)$4,800
• C)$6,200
• D)$11,000
• E)None of the above

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Definitions:

Temper-Prone Behavior

The tendency to exhibit frequent and intense episodes of anger or irritability.

Auditory Hallucinations

Hearing sounds, often voices, that are not actually present or generated by external stimuli.

Psychological Disorder

A pattern of behavioral, cognitive, emotional, or physical symptoms shown by an individual, which is associated with distress, disability, or significantly increased risk of suffering.

David Rosenhan

A psychologist best known for his work on the validity of psychiatric diagnosis, particularly through his "Being Sane in Insane Places" study.