Which of the following items are deductible on federal income taxes for a homeowner?

Mortgage interest and property taxes are deductible on federal income taxes for homeowners, which makes this option the correct choice. The Internal Revenue Service (IRS) allows homeowners to deduct the interest they pay on their mortgage for their primary residence and sometimes a second home if the mortgage meets specific criteria. This can be a significant financial benefit, as it reduces the amount of taxable income a homeowner has to report.

Additionally, property taxes paid on the residence are also deductible, providing further tax relief. This dual benefit of mortgage interest and property tax deductions is a key reason many homeowners take advantage of these tax benefits when filing their federal income tax returns.

In contrast, homeowner’s association fees and property insurance do not qualify as deductions on federal income taxes. Utilities and maintenance costs are also personal expenses that cannot be claimed as deductions. Real estate commission fees are typically incurred during the sale of a property, not while owning one, and are not directly associated with property tax or mortgage interest deductions during the time of ownership. Thus, the deductibility of mortgage interest and property taxes provides the most significant tax advantage for homeowners.