grandmabee Posted March 17, 2013 Report Share Posted March 17, 2013 client refinance loan of principal residence. no money taken out on refi. Is this still acquisition debt and the Mortgage insurance premium is deductable. I think it is still acquistition debt but the insurance on the 1098 is so high. about 4900. on a 234.000 loan. Do you agree it is deductable? Thanks Quote Link to comment Share on other sites More sharing options...
joanmcq Posted March 18, 2013 Report Share Posted March 18, 2013 Yes. Quote Link to comment Share on other sites More sharing options...
Guest Taxed Posted March 18, 2013 Report Share Posted March 18, 2013 Check the income limits because it may hit the cap and NOT be deductible on Sch A. As with any deduction always check the income limits!! Quote Link to comment Share on other sites More sharing options...
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