Which of the following statements accurately describes the deduction for qualified residence interest for 2018?

A taxpayer cannot change the designation of a secondary residence until the until three initially designated secondary residence is sold or becomes the taxpayer's primary residence. Home equity indebtedness, while required to be secured by the residence may be used for personal purposes A taxpayer may claim a deduction for qualified residence residence interest for mortgages on up to three residences. The deduction for qualified residence interest on acquisition indebtedness incurred during 2018bis limited to $750000 ($375000 for a married couple filing separately).

Yes, Accounting