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?
Make a postAsk questions and learn more about your taxes and finances.
roboreaper1
New Member
sparksj337
New Member
jaydriggz1437
New Member
shalitheaweaver-
New Member
joncab4
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.