Thursday, January 6, 2011

Tax Deductibility of Mortgage Insurance Extended!

Great news for the New Year! The mortgage insurance tax-deductibility law has been extended
through 2011.
        
  •           Eligible borrowers with adjusted gross incomes up to $100,000 may be able to deduct
100% of the MI premiums paid in 2011.
  •           Deductions are phased out in 10% increments for borrowers with adjusted gross incomes
between $100,000 and $109,000.

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