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cwhite6424
New Member

Do I include both FHA and Hazard Insurance on Schedule E for rental property? I think I did last year but in years prior, I only included one. Which one (s) do I do?

 
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New Member

Do I include both FHA and Hazard Insurance on Schedule E for rental property? I think I did last year but in years prior, I only included one. Which one (s) do I do?

Yes.

Generally,the IRS allows deductions for expenses related to income-producing property. 

When you own a rental home ,hazard insurance on that property is deductible

 Mortgage insurance premiums on a rental property are tax deductible in the year that they were paid. 


 Insurance deductions are taken on Line 9 of Part I on Schedule E, Supplemental Income and Loss.

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