Would the interest on the mortgage be deductible

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Problem 1: Joseph Jordan owned his home for many years and, over this period of time, had completely paid off the mortgage. Given the low interest rates that are available on mortgages, he negotiated a 10-year, $650,000 variable rate mortgage, with an interest rate of 3.2 %. Joseph Jordan then invested the entire $650,000 in publicly traded securities. Would the interest on the mortgage be deductible?

Reference no: EM132993461

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