"Can I deduct the PMI on rental property that we rent all year?"
Yes - Line 9 of Schedule E.
See https://www.irs.gov/faqs/sale-or-trade-of-business-depreciation-rentals/rental-expenses/rental-expen...
I am using Turbo Tax. I do not see a line "9" as I go through the pages.
In the Rental section under "Expenses", enter the amount of PMI you paid in the box next to "Insurance".