Lee Reams & Associates
Po Box 6768
Malibu, CA 90265
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Ph: 818-338-8700
Fax: 818-740-0550
lee2.reams@clientwhys.com
Acquisition Indebtedness
Malibu Tax Preparation
This is the debt used to acquire, build, or substantially improve a taxpayer’s principal residence or a second home, and it is debt that is secured by the principal residence or second home. The interest on up to $1 million of acquisition indebtedness is deductible as an itemized deduction.
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