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Deductions & credits
On your next (2016) tax return, you will be able to deduct all the mortgage interest you paid this year, and the property taxes that were actually paid to the taxing authority. (This may be different than amounts paid into escrow--money in your escrow account is still yours until it is sent to the tax authority.) If your income is less than $100,000, you can deduct all of the PMI or MIP that is included in your monthly payment that you actually paid, plus 12/84ths of any up front lump sum you paid at closing.
May 31, 2019
5:54 PM