Question
Select the correct answer.
Which item(s) are tax deductible for consumers who are buying a home?
A.
down payment
B.
mortgage property appraisal and inspection costs
C.
closing fees and title costs
D.
mortgage interest and property taxes
E.
insurance payment
Which item(s) are tax deductible for consumers who are buying a home?
A.
down payment
B.
mortgage property appraisal and inspection costs
C.
closing fees and title costs
D.
mortgage interest and property taxes
E.
insurance payment
Answers
GPT-4o mini
The correct answer is:
D. mortgage interest and property taxes
These are typically deductible for homeowners on their income tax returns. Other options, such as the down payment or insurance payments, are generally not tax-deductible.
D. mortgage interest and property taxes
These are typically deductible for homeowners on their income tax returns. Other options, such as the down payment or insurance payments, are generally not tax-deductible.