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Federal income tax code has commonly been thought to: Discourage homeownership Encourage renting Increase interest rates...

Federal income tax code has commonly been thought to:

Discourage homeownership

Encourage renting

Increase interest rates

Encourage homeownership

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Answer #1

Encourage home ownership

Federal income tax code is the rules and procedures which contain thousand of pages and should be followed by individuals to know the details about these rules and procedures of remitting the percentage of their income to the federal government. This will encourage the home ownership in nature because here the reduction in mortgage interest and various other rules will helps to encourage the tax payers to own a home themselves.

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