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twb153130
Apr 11, 2009, 12:07 PM
In preparing my 2008 taxes, Can I deduct PMI on my rental property? The home was bought for personal use in 2002 and I started renting in 2005
AtlantaTaxExpert
Jun 9, 2009, 12:38 PM
Negative; that deduction is allowed only on personal residences.
IntlTax
Jun 10, 2009, 01:33 PM
Yes, you can deduct the cost. The expense was incurred for the production of the rental income.
AtlantaTaxExpert
Jun 10, 2009, 01:43 PM
On second thought, I agree with IntlTax. Brain cramp on my part!