Tax Impacts

The tax

Posted on Thursday, December 23, 2010

> "The Mortgage Insurance Cos. of America, a trade group, estimates the deduction
> saves borrowers who pay mortgage insurance $300 to $350 a year. To qualify for the
> full deduction, you must have adjusted gross income of $100,000 or less. Taxpayers
> with AGI of between $100,000 and $109,000 can claim a partial deduction. In addition,
> borrowers can't deduct mortgage premiums on home loans that closed before 2007."

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