Message Font: Serif | Sans-Serif
No. of Recommendations: 1
I pay PMI monthly with my mortgage.(paid into escrow) On my 1098 the PMI is not listed in box 4. Is this a mistake on the part of the mortgage comp? or am I missing something?

When did you take out the loan? IRS says that PMI is deductible only on loans made after 2006. (There was a change in the law.) See Publication 936.

I use "IRS says" because I've never agreed with the interpretation that PMI wasn't deductible as mortgage interest before the change. While I know I'm not alone, I don't know whether it's ever been tested in court.

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.