3318923
You'll need to sign in or create an account to connect with an expert.
Box 5 is for Mortgage Insurance Premium. That is policy that pays the lender if it turns out that you don't really have title to the property and stop paying the loan. It is not currently tax deductible. Hazard insurance is pays if a hail storm damages your roof or if your house burns down. It is not deductible unless the property is a rental.
Thanks!
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
LNEL1
New Member
shinecraft9253
New Member
shikhiss13
New Member
bettejeanbb
New Member
Vermillionnnnn
Returning Member
in Education