Task 1: 250 words with references on the article below

https://www.forbes.com/sites/shehanchandrasekera/2021/01/11/how-are-cryptocurrencies-taxed/?sh=268b030c6812

Task 2: Answer each of the questions with 150 words, with references and make sure to include tax codes for 2020 as they relate to each question.

1. In January of this year, Joyce and Jane, who are married, purchased a one-bedroom condo in Manhattan for $1 million, paying $400,000 in cash and borrowing $600,000, secured by a mortgage on the condo. They pay $24,000 in interest on this loan this year. On April 1, they purchased a second, small cottage in the Hamptons (on Long Island) for $500,000, paying $350,000 in cash and borrowing $150,000, secured by a mortgage on the home. They pay $6,000 in interest on this loan this year. How much of the aggregate $30,000 interest paid on their Manhattan condo loan and Hamptons cottage loan can they deduct this year under § 163(h)(3)?

2. Same as 1., except that Joyce and Jane purchase only the Hampton home, not the Manhattan condo. (They rent their Manhattan condo, instead.) After purchasing the Hampton home in April, they had no plans to renovate the home, as they liked its gently worn appearance. At least, they thought they did. By September, they are tired of the look and decide that it needs substantial improvements, after all. Thus, they hire an architect, designer, and contractor to design and construct a substantial addition to the home, as well as to renovate the old kitchen and bathrooms, substantially increasing the value of the cottage. The entire project cost is $400,000, all of which is funded by a second mortgage on the home, secured by the home. Thus, in addition to the $6,000 interest paid on the first mortgage this year, they paid $16,000 interest on the second mortgager. How much of their aggregate $22,000 interest can they deduct this year under § 163(h)(3)?

3. Boyce and Bonnie have owned their home, now worth $300,000, for 15 years, and they are proud of the fact that they just recently paid off the original 15-year mortgage. Bonnie was a stay-at-home mom, but Boyce lost his job two years ago and is still looking for a new job. Bonnie found a part-time job to supplement Boyce’s unemployment insurance payments, but Bonnie’s job does not provide health insurance coverage for the family. While he and Bonnie were able to stay on the health insurance policy of Boyce’s old employer for the first year and a half after his layoff, they were uninsured when their 16-year-old daughter Bridget was diagnosed with a devastating kidney disease earlier this year. The doctors gave Boyce and Bonnie little hope that Bridget would survive without a kidney transplant. Fortunately, a donor kidney became available, Bridget underwent the transplant and follow-up care, and she is doing well. The bad news is that the hospital and other bills for her care—even after being very substantially reduced by the hospital after many months of negotiation and providing documentation of their financial situation—totaled $200,000, and Boyce and Bonnie pay these bills by taking out a new mortgage on their home in June, secured by the home. They pay $5,000 in interest on the mortgage for the last 6 months of this year. How much of this $5,000 can they deduct under § 163(h)(3)?