The interest is deductible on your tax return for which of the following? Multiple Choice Home...

The interest is deductible on your tax return for which of the following?

Multiple Choice

Home equity loan

Auto loan

Credit card

Life insurance policy cash value loan

Personal cash loan from a credit union

Expert Solution

A.Home equity loan

the interest on home equity loan is tax deductible , though subject to certain limitations.

Where as the other loans given as options namely

Auto loan, credit card , life insurance policy cash value loan and personal cash loan from a credit union are personal loans and the interest paid on them is not tax deductible.

jeff jeffy answered 2 years ago

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