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## Accounting

 Accounting Basics Cost Accounting Financial Accounting Managerial Accounting Auditing Taxation

Wayne and Maria purchase a home on April 1 of the current year. In order to obtain a thirty-year mortgage, they are required to pay \$7,200 in points at closing. Charging points is a customary business practice in the area. In addition, they pay \$4,400 of interest during the year. What is their current year deduction related to their home?

A) \$4,400

B) \$4,580

C) \$7,200

D) \$11,600

Accounting Basics, Accounting

• Category:- Accounting Basics
• Reference No.:- M945819

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