14. All of the following statements regarding home equity loan interest paid by a couple who file an income tax return as married filing jointly are correct EXCEPT A. home equity loan interest is deductible B. the home equity loan must be secured by a residence mortgage C. interest paid on up to $750,000 of loan amount is deductible regardless of what the borrower does with the money D. interest paid on all nonacquisition debt, to the extent it does not exceed the fair market value of the residence minus any acquisition indebtedness, is deductible, limited to a maximum nonacquisition debt amount of $750,000 14. All of the following statements regarding home equity loan interest paid by a couple who file an income tax return as married filing jointly are correct EXCEPT A. home equity loan interest is deductible B. the home equity loan must be secured by a residence mortgage C. interest paid on up to $750,000 of loan amount is deductible regardless of what the borrower does with the money D. interest paid on all nonacquisition debt, to the extent it does not exceed the fair market value of the residence minus any acquisition indebtedness, is deductible, limited to a maximum nonacquisition debt amount of $750,000