No.
Publication 936, states
that private mortgage insurance premiums must be amortized over an 84-month
period. It means that even though you may have prepaid a larger amount when
closing, you can only deduct the portion that is allocable for the months you
paid in 2016.
Ex: I prepaid $6000 in private mortgage premium when I closed my
home on 7/1/2016. $6000/84 = $71.42. $71.42 is paid to my mortgage company with
my mortgage payment for the rest of the year. I can deduct $71.42 X 6 months
paid = $428.52 for 2016.
The rest of the prepaid amount is deducted in future tax years.
https://www.irs.gov/pub/irs-pdf/p936.pdf
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"