Submitted By: Marjorie
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.

advertisement
Tax Glossary

Amortization of intangibles

Writing off an investment in intangible assets over the projected life of the assets.

More terms