Linda, a single taxpayer, purchased a 10-acre tract of undeveloped land outside of Durham, NC as a long-term investment. She...

profilelyrtneff_21

Linda, a single taxpayer, purchased a 10-acre tract of undeveloped land outside of Durham, NC as a long-term investment. She financed the purchase with a mortgage from BB&T.

This year she paid $3,000 of interest on the mortgage and $700 in property taxes.

These are her only itemized expenses.

What is Linda's best course of action from a tax standpoint?

 

    • Posted: 2 years ago
    • Budget: $999999.99