Ask TaxMama.Com Tax Information With A Mother's Touch Published by Eva Rosenberg, MBA, EA Volume 3      Issue 103       March 9, 2001

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PMI From: Corona, NY Hi TaxMama, Is the cost of PMI Mortgage Insurance for a residential rental property deductible? Michelle Hi Michelle, You bet! And frankly, I hadn't even thought of it. Great idea! Thanks for bringing it up. Your TaxMama Eva Rosenberg [Note: Folks, usually when you report your mortgage interest to your tax pro (or give them the 1098 form with the amount), this question isn't even brought up. For personal purposes, it is not an issue, so don't bother with it. But, Michelle is quite right - on rental properties, (and residences converted to rental properties) this is a valid cost of doing business. DO remember to get that amount for your tax return. Eva]

Library of Congress -  ISSN 1532-0790 Copyright © 2000-2003 - Eva Rosenberg

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