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In 2019, the Browns borrowed $20,000, secured by their home, to pay their sons college tuition. At the time of the loan, the fair market

In 2019, the Browns borrowed $20,000, secured by their home, to pay their sons college tuition. At the time of the loan, the fair market value of their home was $400,000, and it was unencumbered by other debt. The interest on the loan qualifies as

Deductible qualified residence interest.

Deductible personal interest.

Nondeductible interest.

Investment interest expense.

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