Question: Which statement is correct regarding mortgage interest deductions for 2 0 2 5 ? Home equity loan interest incurred prior to TCJA enactment remains fully

Which statement is correct regarding mortgage interest deductions for 2025?
Home equity loan interest incurred prior to TCJA enactment remains fully deductible.
Home mortgage acquisition interest is currently limited to the interest on $1,000,000 of debt incurred.
A refinanced $750,000 mortgage from 2010 may be refinanced in 2025 for its full current amount, and all the interest expense is deductible.
If an existing mortgage is refinanced with an additional amount of $100,000 for personal purposes, the taxpayer may deduct the additional interest expense for the $100,000.

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