You Can Deduct Mortgage Interest and Property Taxes on Your

question 87

True/False

You can deduct mortgage interest and property taxes on your home to reduce your federal income taxes only if you itemize deductions.

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Definitions:

Remedies

Legal means or measures available to a party to enforce a right or redress a harm or violation.

Specific Performance

A legal remedy requiring a party to fulfill their exact obligations under a contract, rather than simply providing monetary damages for failure to do so.

Lien

A legal right or claim against a property by a creditor to ensure the payment of a debt.

Rescission

The revocation of a contract or agreement.