Home was purchased in June 2006. Just curious to know. Thanks in advance for any help.
2007-02-01 14:24:46 · 7 answers · asked by Speedracer 3 in Business & Finance ➔ Taxes ➔ United States
Nope.
Just mortgage interest and property taxes. Any points you paid on your mortgage in 2006 are also deductable.
2007-02-01 14:48:31 · answer #1 · answered by Anonymous · 1⤊ 0⤋
There is only one way insurance can be deducted. That would be if the home is turned into a rental property. Then it becomes an expense subject to passive loss limitations, which would generally not apply if you managed the rental yourself.
2007-02-01 22:39:45 · answer #2 · answered by Anonymous · 0⤊ 0⤋
for all NEW loans obtained in 2007 there is a deduction for PMI. Any loans obtained prior to, there is no deduction. I think this only has been approved for 07 and not 08. so it's not worth a refi to get the deduction.
2007-02-01 22:55:11 · answer #3 · answered by Nicholas M 3 · 0⤊ 0⤋
No. Just interest on mortgage and property taxes.
2007-02-01 22:27:24 · answer #4 · answered by Anonymous · 2⤊ 0⤋
i think the law is being changed to get deductions on insurance, I read something in the news about it, but not sure whether the law is in effect.
2007-02-01 22:31:37 · answer #5 · answered by curio 3 · 0⤊ 1⤋
No. Not right now.
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2007-02-01 22:33:13 · answer #6 · answered by weight-loss 2 · 0⤊ 0⤋
No
2007-02-02 16:52:40 · answer #7 · answered by whymewhynow 5 · 0⤊ 0⤋