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Mortgage insurance premium deduction on your 2007 return |
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作者是 NCKU.net Team
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週一, 11 十二月 2006 04:43 |
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Mortgage insurance premium deduction - 1/1/2007
The legislation allows taxpayers who itemize their deductions to
deduct premiums paid for mortgage insurance - which typically is
required when home buyers purchase their homes with less than 20
percent down.
Currently, only the interest paid on one's mortgage is deductible if the taxpayer itemizes deductions.
The new insurance premiums deduction will only apply to mortgage insurance contracts issued in 2007
and is only available to taxpayers whose adjusted gross incomes do not
exceed $110,000 ($55,000 for married taxpayers filing separately).
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