Mortgage insurance deduction | PMI write off
Thursday, January 24th, 2008Mortgage insurance deductability for 2008 | PMI
A provision that allows homeowners to treat mortgage insurance premiums the same as interest has been extended past 2007 through 2010. The deduction applies to premiums paid or accrued (including for prepaid mortgage insurance) on acquisition (not on refinancing) debt for mortgage insurance. The deduction is phased out for taxpayers (both single and married filing joint returns) with adjustable gross incomes over $100,000.
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