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  • Apr 14, 2009, 11:43 PM
    tambar
    IRS Tax deduction
    Why are not all PMI insurance on your mortgage deductible?
  • Apr 15, 2009, 06:19 AM
    ebaines

    The cost of insurance is not a deductible personal expense. Doesn't matter whether you're talking about insurance on your home, life, auto... whatever.
  • Jun 10, 2009, 12:23 PM
    AtlantaTaxExpert
    ebaines:

    Actually, a portion of the PMI IS now deductible on the 2008 return; recent change in the tax law.
  • Jun 10, 2009, 01:17 PM
    IntlTax

    Quote:
    Why are not all PMI insurance on your mortgage deductible?
    Because Congress chose to only allow some PMI to be deductible.

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