Mortgage Insurance Tax Deductibility is Back for 2016
- The tax deduction is applicable for purchases and refinances closed after 12/31/2014.
- The mortgage insurance premiums paid after 12/31/2014 through
- Borrowers with adjusted gross incomes below $100,000 can deduct 100% of their mortgage insurance premiums. For borrowers with adjusted gross incomes from $100,000.01 to $110,000 deductions are phased out at 10% increments for each additional $1,000 of adjusted gross household income.
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