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jna1210
New Member

Box 5 on 1098 is it tax deducible. From buying a new home.

I got my 1098 from buying my new house. There is $3,880.39 in box 5. And at the bottom in states this---Box 5. If an amount is reported in this box, it may qualify to be treated as deductible mortgage interest. See the 2017 Schedule A (Form 1040) instructions and Pub. 936. Is this tax deductible?

1 Reply
viktoriyab11
New Member

Box 5 on 1098 is it tax deducible. From buying a new home.

The deduction for Mortgage Insurance expired at the end of the tax year 2016.  It has not been renewed or extended for the tax year 2017.

Publication 936 (2017), Home Mortgage Interest Deduction https://www.irs.gov/publications/p936#en_US_2017_publink1000229974
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