Per IRS, homeowners who bought houses after December 31, 2017 can deduct interest on the first $750,000 on the mortgage each month. Generally, if a taxpayer wants to claim the mortgage interest deduction, it involves itemizing the deduction on the tax return.
As such, the correct answer for the question is Option A - $750,000.
Option B is incorrect as $1,000,000 was the amount before December 31, 2017 which is incorrect since the date mentioned in the question is July 12, 2020.
Option C and Option D are incorrect as these amounts reflect incorrect amounts.
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