Learn How to Deduct PMI on Your Taxes

Filing taxes is really glitchy and confusing when you are not aware of deductions you can make. Many homeowners know about the home-related tax breaks and many don't. So the main question arises here is: Is pmi tax deductible 2017?

The link given above has more detailed explanation of the question is pmi tax deductible or not.

Is pmi tax deductible 2017

You may find it actually easy to make a claim for the PMI deduction but first check that you meet the given requirements or not.

The very first thing to do is to verify and note the date when you paid your mortgage loan. If you paid PMI on or after 1st Jan 2007 then the deduction is allowed otherwise PMI premiums are not deductible. However, there is no fixed limit on the amount of PMI premiums you can deduct but the deduction is based mainly on your income.

If you have any question regarding PMI tax deductions you can ask in comments below!