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Which of the following is not required in order to claim a deduction on your 2018 Schedule A for home mortgage interest? Choose one answer.
Which of the following is not required in order to claim a deduction on your 2018 Schedule A for home mortgage interest?
Choose one answer.
a. The proceeds of the loan must have been used to buy, build, or substantially improve your home. | ||
b. You can only deduct the interest paid in 2018 on amounts up to $1,000,000 ($500,000 for MFS) of original indebtedness, if incurred before December 16, 2017. | ||
c. You can only deduct the interest paid in 2018 on amounts up to $750,000 ($375,000 if MFS) of original indebtedness, if incurred after December 15, 2017. | ||
d. You must be legally liable to pay the loan. | ||
e. You must have lived in the home for at least part of 2018 |
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