mellodog2427
Answered

Westonci.ca offers fast, accurate answers to your questions. Join our community and get the insights you need now. Discover a wealth of knowledge from professionals across various disciplines on our user-friendly Q&A platform. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

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

Thank you for your visit. We are dedicated to helping you find the information you need, whenever you need it. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Discover more at Westonci.ca. Return for the latest expert answers and updates on various topics.