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Ted, Who Is Single, Owns a Personal Residence in the City

Question 129

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Ted, who is single, owns a personal residence in the city. He also owns a condo near the ocean. He uses the condo as a vacation home. In March 2017, he borrowed $50,000 on a home equity loan and used the proceeds to acquire a luxury automobile. During 2017, he paid the following amounts of interest. ​
Ted, who is single, owns a personal residence in the city. He also owns a condo near the ocean. He uses the condo as a vacation home. In March 2017, he borrowed $50,000 on a home equity loan and used the proceeds to acquire a luxury automobile. During 2017, he paid the following amounts of interest. ​   What amount, if any, must Ted recognize as an AMT adjustment in 2017? A) $0 B) $4,800 C) $6,200 D) $11,000 What amount, if any, must Ted recognize as an AMT adjustment in 2017?


A) $0
B) $4,800
C) $6,200
D) $11,000

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