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Submitted By: Marjorie
Answered: August 13, 2013 8:30 am
Answered: August 13, 2013 8:30 am
: I’m buying a home with less than 20% down and have to pay private mortgage insurance. Is this deductible for 2013?
Mortgage insurance paid in 2013 can be deductible as mortgage interest (the deduction is scheduled to expire at the end of this year). However, income limits apply to limit or prevent a deduction.
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Tax Glossary
Separate return
Return filed by a married person who does not file a joint return. Filing separately may save taxes where each spouse has separate deductions, but certain tax benefits require a joint return.
