The Tax Cuts and Jobs Act of 2017 has changed the deductibility of state and local taxes and home mortgage interest. Among its features:

Group of answer choices

The new tax act limits state and local tax deductions to total no more than $10,000 per year, with mortgage interest deductions limited to $10,000 per year, as well.

The new act broadly limits mortgage interest deductions to the interest on a $750,000 mortgage used in the purchase of a primary residence.

The new tax act limits the deductibility of interest to $750,000 per year.

The new tax act limits interest deductions to the interest charged on mortgages of no more than $2 million, provided that at least $750,000 was used in the purchase of a primary residence.