53 of 100. All of the following statements regarding the deductibility of mortgage interest are true except one. Which of the following statements is FALSE? To be fully deductible on a taxpayer's 2022 Schedule A, mortgage interest must relate to a mortgage: Used to buy, build, or improve the taxpayer's home. With a balance of no more than $750,000 ($375,000 for MFS filers) if taken out after December 15, 2017. With a balance of no more than $1 million ($500,000 for MFS filers) if taken out before December 15, 2017. For a home located in the United States, Canada, or Mexico