Question: David and Joan are married and file a joint return. They bought a home in 2023 and obtained a mortgage. What is the maximum mortgage

David and Joan are married and file a joint return. They bought a home in 2023 and obtained a mortgage. What is the maximum mortgage amount on which all interest paid on the mortgage debt used for acquisition expenses is deductible?

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The IRS sets limits on the amount of mortgage debt that you can treat as homeacquisition debt which ... View full answer

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