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Filename: drivers/Session_files_driver.php
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Function: require_once
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Filename: Session/Session.php
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File: /home/answnniz/public_html/index.php
Line: 315
Function: require_once
[The following information applies to the questions displayed below.] This year Randy paid $31,300 of interest on his residence. (Randy borrowed $494,000 to buy his residence, which is currently worth $544,000.) Randy also paid $3,600 of interest on his car loan and $5,850 of margin interest to his stockbroker (investment interest expense). How much of this interest expense can Randy deduct as an itemized deduction under the following circumstances? a. Randy received $3,080 of interest this year and no other investment income or expenses. His AGI is $75,000.