You are wrong! Did you read the tax code? If your adjusted gross income is above $109,000, you get no PMI deduction whatsoever. Here is some information for you. Purpose # Mortgage lenders usually require the purchase of private mortgage insurance if you aren't able to make a sizable down payment on the home you want to buy, usually 20 percent, but in some cases less. Lenders tend to view such people as higher-risk, and the PMI protects the lender in the event you quit making your monthly payments. If that happens, the insurance company steps in and pays the lender. You pay the premiums as part of your monthly mortgage payment; the premiums continue until the amount you owe on the mortgage is no more than 80 percent of the value of your home. Qualifications # The federal tax code allows you to deduct premiums for PMI on mortgages you took out in 2007 and beyond. It's up to Congress whether to extend the break from year to year, and as of 2010, the PMI deduction had been extended through the 2011 tax year. To qualify for the PMI deduction, the mortgage must be secured by your home, and it must have been taken out to buy, build or "substantially improve" your home. PMI for mortgages on your primary residence and one second home qualify for the deduction. Limits # The IRS places no dollar limit on the deductible amount of PMI premiums. However, your deduction is subject to an income test. If your adjusted gross income is less than $100,000, your deduction is unlimited. But for every $1 ,000 -- or portion of $1,000 -- above $100,000, you must reduce your deduction by 10 percent. If your adjusted gross income is above $109,000, you get no PMI deduction whatsoever.
【在 s*******1 的大作中提到】 : no, pmi都可以报税的,hoa和home insurance不可以报