ea_rva aka acctgtaxmatters
Level 5
03-31-2025
05:15 PM
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A client has a $300k promissory note for vacant land in NC - sellers are a married couple. There is no 1098. There only other mortgage is for their primary residence - mortgage balance is $250k. What are the determinations for this to be treated as a home mortgage deduction vs investment interest deduction?
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