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Is PMI an expense for a rental property? Also, I got a W2 from a company in California, however I did not work or live in California. Do I need to file taxes with CA?

 
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ColeenD3
Expert Alumni

Is PMI an expense for a rental property? Also, I got a W2 from a company in California, however I did not work or live in California. Do I need to file taxes with CA?

Yes.

 

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.

 

PMI

 

Please see this link for CA nonresident tax returns. You may contact your employer to find out why you have CA income.

 

CA NR

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