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chico67
New Member

We did refi out of our reverse mortgage in 2019. I r'cd 1098 showing total interest and mortg insurance premiums paid. Are both fully deductible for the 2019 tax year?

 
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DavidD66
Expert Alumni

We did refi out of our reverse mortgage in 2019. I r'cd 1098 showing total interest and mortg insurance premiums paid. Are both fully deductible for the 2019 tax year?

Yes, the interest and the mortgage insurance premiums are deductible, subject to the limitations for all mortgage interest.

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