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For my home, my 1098 shows 0.00 for Mortgage Insurance Premiums, but under the Annual Tax and Interest Statement for Escrow Reconciliation it shows $1,108 Insurance Paid.

Is that Insurance paid Deductible and if so where do I deduct?
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AnnaB
New Member

For my home, my 1098 shows 0.00 for Mortgage Insurance Premiums, but under the Annual Tax and Interest Statement for Escrow Reconciliation it shows $1,108 Insurance Paid.

No, the insurance paid that it is referring to is your homeowners insurance that you paid through your mortgage.  Homeowners insurance on a personal home is not deductible.  For a rental property, you can deduct homeowners insurance.

If the Mortgage Insurance Premiums indicate zero, then these do not apply to you.

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1 Reply
AnnaB
New Member

For my home, my 1098 shows 0.00 for Mortgage Insurance Premiums, but under the Annual Tax and Interest Statement for Escrow Reconciliation it shows $1,108 Insurance Paid.

No, the insurance paid that it is referring to is your homeowners insurance that you paid through your mortgage.  Homeowners insurance on a personal home is not deductible.  For a rental property, you can deduct homeowners insurance.

If the Mortgage Insurance Premiums indicate zero, then these do not apply to you.
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