Based on United States federal taxes

QUESTION 24 Laura takes out a $2,000,000 mortgage loan in 2021 and uses it to buy her home. It is the only house she owns and the loan is secured by the house. The interest she pays on the loan in 2021 is $12,000. How much of that interest is deductible? Zero, because the house is her personal residence, not business property. $12,000, because mortgage interest is fully deductible. 0 $4,500. O $6,000. QUESTION 25 Evelyn enjoys gambling at the race track a few times a year. On one day in March she wins $2.500 on a race and includes that amount in her gross income. She has no other winnings during the year and loses $6,000 in total on other wagers during the year. If Evelyn itemizes deductions, how much of her gambling losses may she deduct? Zero. O $2.500. $3,500. $6,000