Which of the following types of interest are likely to be deductible in 2020?

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Question:

Which of the following types of interest are likely to be deductible in 2020?

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Answer:Taxpayers can deduct mortgage interest on up to $750,000 in principal. The debt must be "qualified personal residence debt," which generally means the mortgage is backed by either a primary residence, second/vacation home, or by home equity debt that was used to substantially improve one of these residences.

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