Which of the Following Is Not Deductible as Interest Expense

question 115

Multiple Choice

Which of the following is not deductible as interest expense on Schedule A?

• A)Loan fee charged for appraisal service
• B)Home mortgage interest
• C)Mortgage interest on a second residence
• D)Home mortgage prepayment penalties
• E)All of the above are deductible as interest expense

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Profitability

A financial metric that measures the degree to which a company or business activity generates income greater than its expenses and costs.

Legislative Changes

Amendments or additions to the law made by a governing body that can significantly affect businesses, individuals, and society.

Merit Raises

Salary increases awarded to employees based on their job performance, as an incentive for exceptional work results.

Value Analyses

A method to improve the value of a product or service by examining its function, reducing cost, or both.