Essay
Jacki (a single taxpayer in the 28% marginal tax bracket)owns a home in which she has $30,000 equity,and she itemizes deductions.She pays $1,000 interest on credit cards and $9,000 interest on her home equity loan.Calculate Jacki's tax savings from these interest payments.
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$9,000 × 0.28 = $2,5...View Answer
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