Reverse Mortgage PMI and Interest

[bobp1426]

For a Reverse Mortgage, if I make a partial repayment that covers the interest and PMI on a reverse mortgage accumulated in the year, is the interest and PMI deductible in the year I make the partial Repayment?  

[LeonardS · Accepted solution]

Yes, the interest and PMI you paid in 2019 is deductible on your 2019 tax return.