In March of 2023, Mimi takes out a $600,000 mortgage to purchase a main home. The main home is worth $900,000. The loan is secured by the main home. In June 2023, Mimi takes out a $250,000 home equity loan to purchase a vacation home. The loan is secured by the primary residence. Given that total indebtedness exceeds $750,000, how much of the interest on the loan used to acquire the vacation home is deductible. O 50% 60% O 100% O 0

In March of 2023, Mimi takes out a $600,000 mortgage to purchase a main home. The main home is worth $900,000. The loan is secured by the main home. In June 2023, Mimi takes out a $250,000 home equity loan to purchase a vacation home. The loan is secured by the primary residence. Given that total indebtedness exceeds $750,000, how much of the interest on the loan used to acquire the vacation home is deductible. 50% 608 100%