Points Paid in Connection with the Purchase of a Principal

question 121

True/False

Points paid in connection with the purchase of a principal residence may be deducted in the year paid.

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Definitions:

Original Prints

Artistic works that are created by an artist directly onto a surface from which they are then printed, in a limited number of copies.

Leahy-Smith America Invents Act

is a significant piece of U.S. legislation that reformed the patent system, transitioning the U.S. to a first-to-file system from a first-to-invent system.

First Inventor

The initial individual or entity to conceive and document a unique invention eligible for patent protection.

Economic Espionage Act

A federal law that criminalizes the theft or misappropriation of trade secrets with the intent or knowledge that the offense will benefit a foreign government or entity.