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interest is any interest which is paid or accrued during the
taxable year on acquisition indebtedness or home equity
indebtedness. See sec. 163(h)(3)(A). Acquisition indebtedness
is any indebtedness secured by the qualified residence of the
taxpayer or incurred in acquiring, constructing, or substantially
improving the qualified residence. See sec. 163(h)(3)(B). Home
equity indebtedness is any other indebtedness secured by the
qualified residence to the extent the aggregate amount of such
indebtedness does not exceed the fair market value of the
qualified residence reduced by the amount of acquisition
indebtedness on the residence. See sec. 163(h)(3)(C)(i). The
amount of home equity indebtedness for any taxable year cannot
exceed $100,000. See sec. 163(h)(3)(C)(ii). The indebtedness
generally must be an obligation of the taxpayer and not an
obligation of another. See Golder v. Commissioner, 604 F.2d 34,
35 (9th Cir. 1979), affg. T.C. Memo. 1976-150.
Petitioners provided no documentation before, during, or
after trial, such as canceled checks, that substantiates their
claim that they made payments of home mortgage interest in excess
of $4,796 during taxable year 1999. At trial, petitioner did not
testify as to any specific payments of home mortgage interest.
Petitioners’ only evidence, in this respect, is a monthly billing
statement from EMC Mortgage Corporation (EMC) reflecting that
petitioners paid $187.45 of home mortgage interest during taxable
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