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rh4
New Member

Can mortgage insurance be deducted on home office and personal deduction?

When I entered the mortgage insurance in the Business Home Office Section, Turbo Tax stated that I could also enter it again in the Personal Home Deductions and Credits. Is this correct? I know I can't enter mortgage interest in both sections.

If mortgage insurance can be entered in both sections, do I add the name of the mortgage company in the Personal Home Section, and only put the mortgage insurance amount from line 5 from the 1098 mortgage form (leave the mortgage interest & property taxes blank)?

Thank you for your help.
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1 Reply
MinhT
Expert Alumni

Can mortgage insurance be deducted on home office and personal deduction?

When you are claiming a home office deduction in the Business section, you'll have to pro-rate expenses such as mortgage interest, property taxes and mortgage insurance between the business use (your home office) and personal use (the rest of your home). One acceptance method is to pro-rate by square footage.

You enter the business use portion in the home office deduction in the Business section and the personal use portion in the Personal section under Deductions & Credits.

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