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3 Cards in this Set
- Front
- Back
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For Federal income tax purposes, which of the following are costs of homeownership that may be deducted from gross income? |
Mortgage loan interest, local property taxes, mortgage loan origination fees. |
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The buyer is assuming a mortgage presently on the property in the amount of $110,000. What is the adjustment made at closing? |
Credit buyer $110,000; debit seller $110,000. |
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a |
a |
