Which of the Following Is a True Statement

question 12

Multiple Choice

Which of the following is a true statement?

• A)Taxpayers may only deduct interest on up to $1,500,000 of acquisition indebtedness
• B)Taxpayers may deduct interest on up to $1,000,000 of home-equity debt
• C)The deduction for investment interest expense is not subject to limitation
• D)A taxpayer who incurs acquisition indebtedness in 2018 may only deduct interest on up to $750,000 of acquisition indebtedness
• E)None of the choices are correct.

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