Question

Which item(s) are tax deductible for consumers who are buying or renting a home?

A.lease interest payments and fees
B.mortgage property appraisal and inspection costs
C.closing fees and title costs
D.mortgage interest and property taxes
E.rental deposits and renter’s insurance

Answer 1

You can deduct the interest and property tax portions of your mortgage payment, medical bills, etc.

Answer 2

The answer is: mortgage interest and property taxes

Both of these are tax deductible as long as they do not surpass the maximum limit that required by the government. For mortgage interest, it's tax deductible as long as the amount does not exceed 1 million dollars. For property taxes, they are deductible as long as the amount does not exceed 10,000 dollars per year.