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Many homeowners itemize deductions while many renters claim the standard deduction. Explain. O A. Home mortgage interest and real property taxes are itemized deductions. As a result, a homeowner's itemized deductions often exceed the standard deduction, making it beneficial to itemize. Renters typically do not have these deductions, so the standard deduction often is greater than itemized deductions. B. Home mortgage interest and earned income credit are itemized deductions. As a result, a homeowner's itemized deductions often exceed the standard deduction, making it beneficial to itemize. Only if the annual rent exceeds $100,000 is a renter allowed to itemize deductions. C. Real property taxes and child and dependent care credit are itemized deductions. As a result, a homeowner's itemized deductions often exceed the standard deduction, making it beneficial to itemize. Renters are not allowed to itemize deductions and therefore, must claim the standard deduction. D. Real property taxes and low-income housing credit are itemized deductions. As a result, a homeowner's itemized deductions often exceed the standard deduction, making it beneficial to itemize. Only renters who own vehicles, at the end of the tax year, are allowed to itemize deductions

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