Solved

Melba Incurred the Following Expenses for Her Dependent Daughter During

Question 87

Multiple Choice

Melba incurred the following expenses for her dependent daughter during the current year:
Payment of principal on daughter’s automobile loan $3,600Payment of interest on above loan 2,900 Payment of daughter’s property taxes1,800Payment of principal on daughter’s personal residence loan 2,800 Payment of interest on daughter’s personal residence loan7,00How much may Melba deduct in computing her itemized deductions? \begin{array} { l } \text {Payment of principal on daughter's automobile loan }&\$3,600\\ \text {Payment of interest on above loan }&2,900\\ \text { Payment of daughter's property taxes}&1,800\\ \text {Payment of principal on daughter's personal residence loan }&2,800\\ \text { Payment of interest on daughter's personal residence loan}&7,00\\\\ \text {How much may Melba deduct in computing her itemized deductions? }&\\\end{array}


A) $0
B) $8,800\$ 8,800
C) $11,700\$ 11,700
D) $18.100\$ 18.100
E)  None of these \text { None of these }

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions