Robert and Judy Parker made the following payments during 2010: ...

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Accounting

Robert and Judy Parker made the following payments during 2010:
Interest on a life insurance policy loan (the loan proceeds were used for personal use) $1,200
Interest on home mortgage for period January 1 to October 4,2010 $3,600
Penalty payment for prepayment of home mortgage on October 4,2010 $900
How much can the Parkers utilize as interest expense in calculating itemized deductions for 2010?
Select one:

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