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In,2009,Mr. smith purchased a principal residence for $1500000.He made a down payment of $300000 and financed thew remainder by borrowing $1200000 through a loan secured by the residence.in 2009, Mr. smith paid interest that accrued on the indebtedness during that year.he had no other debt secured by the residence.may he deduct the amount of interest which was paid on thew home loan?

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