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Yes, include the PMI from your 1098, Box 5 in the Mortgage Interest section. TurboTax will allocate it for you correctly.
You will enter the monthly PMI figure for the number of months in 2017 from the closing date. (For example, you paid $5000 PMI at closing on 6/1/2017. $5,000 divided by 84 mos = $59.52/mo. 6 mos times $59.52 = $357.14. Now you have 78 mos to amortize.) With this example, you would enter $357.14 in the PMI box.
Next year, 2018 taxes, you will $714.24 for the PMI using the above example. You would continue to use this figure for the next 5.5 years.
However, if you sell this house before the amortization period is complete, you can not accelerate the amount and will lose this deduction per the IRS.
[Edited: 04.17.2018 7:39 PM EST]
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