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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
Legally separated
A husband and wife who are required to live apart from each other by the terms of a decree of separate maintenance. Payments under the decree are deductible by the payor and taxable to the payee as alimony.
