Multiple Choice
During 2017,Manuel and Gloria,who are not married and live in Beverly Hills,incurred acquisition debt on their new residence of $2,150,000.On their individual tax returns,what is the amount of qualified acquisition debt on which they can each deduct interest?
A) $900,000.
B) $1,000,000.
C) $1,050,000.
D) $1,150,000.
Correct Answer:
Verified
Correct Answer:
Verified
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