Homework Answers
Answer:
Correct answer is:
D. $46,375
Explanation:
In 2018:
Only the interest on the first $750,000 of mortgage debt is deductible
Deduction for property taxes and state and local taxes are limited to $10,000
Hence couple's itemized deduction for 2018 = $24375 + $10000 + $12000 = $46,375
As such option D is correct and other options A, B, C and E are incorrect.
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