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Are mortgage insurance premiums deductible on your taxes?
No they are not or the death benefit would be taxable. Since you said mortgage insurance I am assuming that you mean PMI or Private mortage insurance and not mortgage life insurance. Yes, mortgage insurance is tax deductible as of 2007. You can see the amount of PMI paid for the year on the final escrow statement that your mortgage lender sends you in December or January.
Is interest paid on the mortgage of your home tax deductible?
Well it depends on what kind of mortgage.
Universal life insurance premiums tax deductible?
NO. Life insurance premiums would NOT be deductible on your 1040 federal income tax return.
Can a credit card loan spent to purchase a home be tax deductible?
No. Money, borrowed or not, to purchase a home is not tax deductible...the interest on the mortgage secured to the property may be.
If you take out a home equity loan and pay mortgage recording tax is it deductible per IT-256?
If you were to take out a home equity loan and pay for the mortgage recording tax, it would be deductible and the IT-256 form must be used to claim it.
Are mortgage insurance premiums deductible on your taxes?
No they are not or the death benefit would be taxable. Since you said mortgage insurance I am assuming that you mean PMI or Private mortage insurance and not mortgage life insurance. Yes, mortgage insurance is tax deductible as of 2007. You can see the amount of PMI paid for the year on the final escrow statement that your mortgage lender sends you in December or January.
Can a person claim Lender-Placed Insurance on their home on their income tax?
If you are talking about PMI (Private Mortgage Insurance for those who put less than 20% down on their purchase), that should be deductible if the mortgage originated in 2007 or later. If you are talking about homeowner's insurance (fire, burglary, liability), that is never deductible for your personal residence no matter who placed it. If it is a business or investment property, it would be deductible like any other business/investment expense.
What kind of insurance is tax deductible?
Insurance for one's personal property such as auto or homeowner's insurance is tax deductible. Other tax deductible insurances are medical and dental insurances.
Are private school fees tax deductible in Australia?
In Australia, Private school fees are not tax deductible.
Is tax on continuing a second mortgage deductible after filing for a first foreclosure?
Even if you have had a foreclosure, tax on a second mortgage or home equity loan is still deductible.
Is pet insurance tax deductible in Arizona?
Not deductible on your federal income tax return.
Is life insurance tax deductible?
No.
Is interest paid on the mortgage of your home tax deductible?
Well it depends on what kind of mortgage.
Is mortgage interest deductible on your taxes?
yes on your income tax
Universal life insurance premiums tax deductible?
NO. Life insurance premiums would NOT be deductible on your 1040 federal income tax return.
Is business travel insurance tax deductible?
If you are self-employed you likely will be able to claim your travel insurance as a deduction. If you are not self-employed a portion of the travel insurance may be tax deductible.
Can insurance co-pay be tax deductible?
If you are referring to a MEDICAL/HOSPITALIZATION insurance co-pay, yes, that is deductible as a medical expense. And on property/casualty insurance, it may be deductible as a casualty loss.
