Ture or false: the actual amount of mortgage interest that could be deducted by most u s taxpaying homeowners is almost greater than the standard interest deduction allowed by the internal revenue service (IRS) 

• This statement is false, which means that most taxpayers in this situation are better off taking the standard deduction rather than itemizing their deductions. 
• This statement is false, which means that most homeowners are better off taking the standard deduction for mortgage interest as permitted by the IRS 
• This statement is true, which means that most taxpayers in this situation are better off itemizing their deductions rather than taking the standard deduction. Type here to search

Answer rating: 100% (QA)

True Taxpayers are allowed to deduct mortgage interest on ... View the full answer