Forbearance and deduction of mortgage insurance ac...
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tburgos3
New Member

Forbearance and deduction of mortgage insurance accrued but not paid. Given the forbearances that have been issued as a result of Covid, will the mortgage interest accrued but not paid in 2020 still

Be deductible?
2 Replies
Critter-3
Level 15

Forbearance and deduction of mortgage insurance accrued but not paid. Given the forbearances that have been issued as a result of Covid, will the mortgage interest accrued but not paid in 2020 still

No. To be deducible they must be paid. 

Opus 17
Level 15

Forbearance and deduction of mortgage insurance accrued but not paid. Given the forbearances that have been issued as a result of Covid, will the mortgage interest accrued but not paid in 2020 still

You cannot deduct any expense unless you actually pay it.

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*
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