4 - the-counter drugs 140 Optometrist 125 Emergency room charges 440 LASIK eye surgery 2,000 Chiropractor 265 19 On March 1 Paige took advantage of low

4 - the-counter drugs 140 Optometrist 125 Emergency room...

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the-counter drugs 140 Optometrist 125 Emergency room charges 440 LASIK eye surgery 2,000 Chiropractor 265 19. On March 1, Paige took advantage of low interest rates and refinanced her $75,000 home mortgage with her original lender. The new home loan is for 15 years. She paid $215 in closing costs and $1,500 in discount points (prepaid interest) to obtain the loan. The house is worth $155,000, and Paige's basis in the house is $90,000. As part of the refinancing arrangement, she also obtained a $10,000 home-equity loan. She used the proceeds from the home-equity loan to reduce the balance due on her credit cards. Paige received several Form 1098 statements from her bank for interest paid by her in 2015. Details appear below. (See also Exhibit A on page C-11.) Primary home mortgage $7,100 Home-equity loan 435 Credit cards 498 Car loan 390 20. On May 14, 2015, Paige contributed clothing to the Salvation Army. The original cost of the clothing was $740. She has substantiation valuing the donation at $360. The Salvation Army is located at 350 Stone Ridge Road, Bangor, Maine 04401. In addition, she made
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  • Spring '17
  • Ellen Zitani
  • Interest, home-equity loan

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