Matthew purchased his first home in 2021 and the bank required that he pay mortgage insurance premiums of $3,040 which was 1% of his loan of $304,000. Matthew's AGI for 2021 was $106,500. What is Matthew's deduction in 2021 for mortgage insurance premiums? Mortgage insurance premium $

Matthew purchased his first home in 2021 and the bank required that he pay mortgage insurance premiums of $3,040 which was 1% of his loan of $304,000. Matthew's AGI for 2021 was $106,500. What is Matthew's deduction in 2021 for mortgage insurance premiums? Mortgage insurance premium $

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter8: Taxation Of Individuals

Section: Chapter Questions

Problem 37P

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Question

Matthew purchased his first home in 2021 and the bank required that he pay mortgage insurance premiums of
$3,040 which was 1% of his loan of $304,000. Matthew's AGI for 2021 was $106,500. What is Matthew's
deduction in 2021 for mortgage insurance premiums?
Mortgage insurance premium
LA
$

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