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New Member
posted Apr 10, 2024 6:05:13 PM

On a 1098 I paid $5576 in Hazard Insurance but box 5 says 0.00

0 2 569
2 Replies
Expert Alumni
Apr 10, 2024 6:13:28 PM

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. 

New Member
Apr 10, 2024 7:18:30 PM

Thanks!