Quiz: The Mortgage Interest Deduction

True or False: In general, any home owner can reduce their taxable income by deducting the amount of interest they have paid on the home loan on their primary residence.

True

False

Correct!

Wrong!

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True or False: In the past, Members of Congress have suggested eliminating or limiting the mortgage interest deduction.

True

False

Correct!

Wrong!

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True or False: Typically, only high-income earners take advantage of the mortgage interest deduction to reduce their taxes.

True

False

Correct!

Wrong!

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True or False: Sixty percent of the families who claim the mortgage interest deduction have household incomes between $60,000 and $200,000.

True

False

Correct!

Wrong!

-

True or False: The mortgage interest deduction cannot be applied to a home owner home equity line.

True

False

Correct!

Wrong!

-

Quiz: The Mortgage Interest Deduction

Time to Focus on Affordable Housing

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Quiz: The Mortgage Interest Deduction

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Time to Focus on Affordable Housing

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