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Yes, however there is a special rule for prepaid insurance, and you have to calculate it manually (but it's easy). You have to spread the deduction out over the life of the loan, or 84 months, whichever is shorter
Most expenses at closing on the purchase or refinance of a home are added to the cost of a new home. The following would be deductible:
Title fees, real estate commissions, appraisal costs, home inspections, documentary stamps, credit report costs, costs of an abstract, transfer taxes, flood certificate, attorney fees, etc. are not deductible, but are added to the cost of the property.
Mortgage interest, refinancing, property taxes and mortgage insurance are all under the Deductions and Credits tab for "Your Home."
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