The standard deduction for mortgage interest under the 2014 U.S. tax code is: $5,900 for single individuals and $11,800 for married couples filing jointly $12,600 for single individuals and $6,300 for married couples filing jointly $6,300 for single individuals and $12,600 for married couples filing jointly True or False: The actual amount of mortgage interest that could be deducted by most U.S. taxpaying homeowners is almost always greater than the standard interest deduction allowed by the Internal Revenue Service (IRS). This statement is true, which means that most taxpayers in this situation are better off itemizing their deductions rather than taking the standard deduction This statement is false, which means that most taxpayers in this situation are better off taking the standard deduction rather than itemizing their deductions, This statement is false, which means that most homeowners are better off taking the standard deduction for mortgage Interest as permitted by the IRS