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What amount may Mary claim as an itemized deduction

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Reference no: EM132675068

Problem - Mary's mother defaults on a home loan and Mary pays $600 in loan payments, including $175 in interest. Mary is not legally obligated on the loan and has no ownership interest in her mother's home.

What amount, if any, may Mary claim as an itemized deduction for the current tax year? Why?

Reference no: EM132675068

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