Which of the Following Loans Is Clearly NOT Subject to the IRS

question 145

Multiple Choice

Which of the following loans is clearly NOT subject to the IRS mortgage interest reporting requirement?

• A) A loan made to purchase securities, secured by rural acreage
• B) A loan made to finance a college education, secured by a piece of commercial real estate
• C) A loan made to purchase a lot on a lake, secured by a certificate of deposit
• D) A loan made to purchase a residence, secured by the dwelling

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Definitions:

Childhood Onset Fluency

A speech disorder originating in childhood that affects the flow, speed, and rhythm of speech, often referred to as stuttering.

Stutters

A speech disorder characterized by repeated or prolonged sounds, syllables, or words, disrupting the normal flow of speech.

Language Disorder

A neurodevelopmental disorder that affects how one understands, speaks, and communicates.

Written Language

A system of communication using visual symbols to represent the units of a language systematically.