Which of the following is not an economic benefit of home ownership?
A)buildup of ownership equity
B)appreciation in value
C)deduction of property taxes on income-tax returns
D)tax deduction of principal on income-tax returns

Question

Which of the following is not an economic benefit of home ownership?​
A)buildup of ownership equity
B)appreciation in value
C)deduction of property taxes on income-tax returns
D)tax deduction of principal on income-tax returns

Quizplus · Accepted Answer

The tax deduction of principal on income-tax returns is not an economic benefit of home ownership. While mortgage interest and property taxes may be deductible, the principal portion of mortgage payments is not tax-deductible.

Which of the Following Is Not an Economic Benefit of Home