juankiboi asked:


I don’t show any amount on box 4 of for 1098, but I paid $648 per my mortgage institution. Can i still deduct it?

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4 Responses to “Can I deduct mortage insurance premiums paid, if they are not reflected on my form 1098?”

1. Doctor Deth on October 18th, 2008 2:52 pm

   Kansieo.com

   Only mortgage interest and real estate taxes is deductible on your primary house - if you have a rental property, you might be able to the the insurance related to THAT mortgage

2. chatsplas@sbcglobal.net on October 18th, 2008 6:11 pm

   Create a video blog…instantly.

   Yes, but get your receipt from the company to whom it was paid and keep it with your taxes. This is first year it’s deductible, so companies may not yet be up to snuff on listing it.

3. Audrey A on October 19th, 2008 2:42 pm

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   Yes you can deduct Mortgage insurance premiums this year! You treat it the same as you would mortgage interest.

   There are a couple of stipulations. The mortgage insurance contract must have been issued after 2006 and the premiums must have been paid before 2008. So its only if you have recently bought a home. Also, if you made more than $109,000 if filing jointly or $54,500 if filing separately, you don’t qualify for the deduction

4. v b on October 21st, 2008 2:42 am

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   Did you buy the house in 2007? PMI is not retroactive to houses bought before 2007.

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