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  3. Study Set
    Taxation of Individuals
  4. Exam
    Exam 6: Individual Deductions
  5. Question
    Taxpayers Are Allowed to Deduct Mortgage Interest on Up to $1,000,000
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Taxpayers Are Allowed to Deduct Mortgage Interest on Up to $1,000,000

Question 85

Question 85

True/False

Taxpayers are allowed to deduct mortgage interest on up to $1,000,000 of acquisition debt for their qualified residence and on up to $500,000 of home-equity debt.

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