Is Mortgage Insurance Tax Deductible?

Yes it is but there are income limits.  If your adjusted gross income is more than $100,000 the deduction is limited and if you’re over $109,000, no deduction is allowed.

This is very important because I know there are people who tell their clients that it is tax deductible when trying to sell them a product.  Make sure to always consult your CPA or accountant.  You can also go onto www.irs.gov and search for yourself.

http://www.irs.gov/newsroom/article/0,,id=202593,00.html