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Ted,who Is Single,owns a Personal Residence in the City

Question 108

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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.
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What amount,if any,must Ted recognize as an AMT adjustment in 2017?
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


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

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