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7. True or False: Lanny used a home equity loan to pay down credit card debt, purchase a new car, and help pay off some

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7. True or False: Lanny used a home equity loan to pay down credit card debt, purchase a new car, and help pay off some of his son's student loan debt. As of 2018, Lanny can fully deduct the portion of the debt used to pay off the credit card debt but not the portion of the loan used for other expenses

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