Mellodog2427idn
Answered

Find detailed and accurate answers to your questions on IDNLearn.com. Join our Q&A platform to receive prompt and accurate responses from knowledgeable professionals in various fields.

I need help with this question, I'm not sure what to do

I Need Help With This Question Im Not Sure What To Do class=

Sagot :

If Bruce can deduct 40% from other interest then the total interest deducted is $2927.

Given Adjusted gross income=$36500, mortgage interest =$2787 and other interest $350.

It is said that 40% of other interest can be deducted by Bruce but it is not said that nothing will be deducted by Bruce from Mortgage interest so we will deduct full of mortgage interest and 40% of other interest. So,

Mortgage interest =$2787

Other interest=$350

Other interest deductable=40%*350

=$140

So the total will be 2787+140 =$2927.

Hence the interest deducted by Bruce is $2927if only 40% of  other interest is deductable.

Learn more about interest at https://brainly.com/question/2151013

#SPJ10

We value your presence here. Keep sharing knowledge and helping others find the answers they need. This community is the perfect place to learn together. Find precise solutions at IDNLearn.com. Thank you for trusting us with your queries, and we hope to see you again.