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lwhip
New Member

Can I claim additional MIP from closing documents

 
1 Best answer

Accepted Solutions
MargaretL
Employee Tax Expert

Can I claim additional MIP from closing documents

Yes, you can. Mortgage insurance premiums are deductible, but please make sure it is not the same amount that appears on your 1098 form. Often, form 1098 reflect the full amount of insurance premiums paid.

  1. Federal Taxes
  2. Deductions & Credits
  3. Your Home
  4. Mortgage Interest, Refinancing and Insurance - you'll be asked about form 1098, you can enter amount from box 5, or you can add an amount together with the box 5 value. 

View solution in original post

1 Reply
MargaretL
Employee Tax Expert

Can I claim additional MIP from closing documents

Yes, you can. Mortgage insurance premiums are deductible, but please make sure it is not the same amount that appears on your 1098 form. Often, form 1098 reflect the full amount of insurance premiums paid.

  1. Federal Taxes
  2. Deductions & Credits
  3. Your Home
  4. Mortgage Interest, Refinancing and Insurance - you'll be asked about form 1098, you can enter amount from box 5, or you can add an amount together with the box 5 value. 

View solution in original post

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