Financing in San Jose>Question Details

Jamie, Home Buyer in San Jose, CA

FHA MIP-tax deductions

Asked by Jamie, San Jose, CA Sun Apr 26, 2009

Hi,
If a seller pays for my FHA MIP (upfront insurance premium), will I still be able to make tax deductions on this amount?
thanks.

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Answers

1
Jamie you can only deduct either origination fees and discount points that show on the HUD-1 (closing statement for Real Estate) that were paid by you or on your behalf. So in order to have the deduction these would have to be paid not the upfront MIP.
0 votes Thank Flag Link Mon Apr 27, 2009
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