Yes, according to the IRS FAQ Rental Expenses 1, you should report the rental portion of the UFMIP on Line 9 of Schedule E.
"In general, you can deduct mortgage insurance premiums in the year paid. However, if you prepay the premiums for more than one year in advance, for each year of coverage you can deduct only the part of the premium payment that will apply to that year. Report the deduction on line 9 of Schedule E (Form 1040), Supplemental Income and Loss."
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