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Mail in Audit - Schedule A - Mortgage Interest
My client has a mail in audit for Schedule A Home Mortgage Interest. He has 2 houses and 1,627,472 in Principal Balances on 4 original loans on the house - none ever refinanced - one is a home equity loan of about 180K. He paid 57,000 in interest and we did the exclusion - he ended up with about 38,000 on Schedule A. He purchased the houses in the...
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