Finance
Maine allows homeowners to deduct mortgage interest from state income taxes. The mortgage interest deduction on Maine state taxes generally mirrors:
AA flat $10,000 deduction
BThe federal mortgage interest deduction rules✓ Correct
COnly interest on mortgages under $100,000
DNo deduction exists on Maine state taxes
Explanation
Maine's income tax is based on federal adjusted gross income with modifications. Maine generally conforms to federal treatment of mortgage interest deductions, though there may be adjustments for Maine-specific provisions.
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