Luis has an Adjusted Gross Income of $ 110,000 and in that same year he...
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Accounting
Luis has an Adjusted Gross Income of $ 110,000 and in that same year he received an inheritance of $ 10,000. The mortgage interest paid by Luis for the current taxable year is $ 36,000. Determine the amount that Luis can deduct on the return in the mortgage interest item, show the computations, include the limit established on the return.
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