Tax guide

Can I deduct private mortgage insurance premiums?

Are Private Mortgage Insurance Premiums Deductible? 

No. Currently, PMI is not deductible for the 2024 tax year. That could retroactively change, however, if Congress passes an extension allowing filers to claim deductions for mortgage insurance premiums paid in those years.  

For more information, see the Tax Breaks for Homeowners page in the 1040.com Tax Guide. The IRS also has publication 936 with information on home mortgage interest deductions. 

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