Auritione. On what

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Question $42$ of $85.$

In $2020,$ Niesha purchased her principal residence for $$450,000.$ On January $15,2023,$ when she owed $$320,000$ on the orvginal mortgage, she took out a home equity loan. In January $2023,$ the fair market value of the home was $5490,000.$ The home oquity loan proceeds were used to purchase a new car and pay off credit cards. It was not used to build, buy, or improve her home. During the year, she paid $$6,200$ in interest on her first mortgage and $$1,580$ in interest on the home equity loan. What amount of mortgage interest can Niesha deduct on her Schedule A $($Form $1040),$ Itemized Deductions?

$$1,580$

$$4,620$

$$ $$6,200$

$$7,780$

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