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    twb153130's Avatar
    twb153130 Posts: 1, Reputation: 1
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    #1

    Apr 11, 2009, 12:07 PM
    Can PMI on Loans be deducted on rental property
    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's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    Jun 9, 2009, 12:38 PM
    Negative; that deduction is allowed only on personal residences.
    IntlTax's Avatar
    IntlTax Posts: 831, Reputation: 23
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    #3

    Jun 10, 2009, 01:33 PM

    Yes, you can deduct the cost. The expense was incurred for the production of the rental income.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #4

    Jun 10, 2009, 01:43 PM
    On second thought, I agree with IntlTax. Brain cramp on my part!
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