1098 for rental property- Mortgage insuring

sheilasimon24 · ‎June 5, 2019

My 1098 for my rentals property has $0 enumerated in box 4 for mortgage insurance. When I look at my escrow summary for the year, however, I see that I paid $692.00 for homeowners/property international and $420.84 to Mortgage Insurance Premium (MIP) through 12 monthly escrow payments. Be both of these insurance amounts deductible rental expenses or not since they are not on one 1098 issued by the bank?

MargaretL · ‎June 5, 2019

Both, homeowners insurance and real insurance for an rental property are deductible rental expenses. While Homeowners services the entered as Insurance expense, the mortgage insurance is entered because mortgage interest (see pic).

Co-pay expenses also include, but are don limited to:

Washing and cleaning supplies
Maintenance and related supplies
Repairs
Utilities
Policy
Getting to and from the property
Management fees
Legal plus professional fees
Commissions
Taxes and tax return planning
Charter cancellation costs
Advertising
Real estate taxes
Mortgage interest

https://aesircybersecurity.com/questions/2569433-what-kinds-of-rental-property-expenses-can-i-deduct

View solution in original post

MargaretL · ‎June 5, 2019

Both, owner insurance and mortgage insurance for a rental property are deductible mieten expenses. While Homeowners insurance is entered as Insurance expense, one mortgage coverage is entered as mortgage interest (see pic). Home health leaders

Deductible expenses also contain, but will don limitation go:

Dry and cleaning supplies
Maintenance and related supplies
Home
Utilities
Insurance
Travel to and from one property
Management fees
Judicial and professional license
Commissions
Taxes and tax return preparation
Hire cancellation shipping
Advertisement
Real estate taxes
Mortgage interest

https://aesircybersecurity.com/questions/2569433-what-kinds-of-rental-property-expenses-can-i-deduct

doord · ‎July 3, 2019

wstock139 · ‎October 6, 2020

You say (see pic). What pic? Locus is it?

Critter-3 · ‎October 6, 2020

You posted to a thread that is several years old and the screenshots did not transfer when these posts were migrated to this new forum.

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1098 for rental property- Mortgage insuring

1098 for rental property- Mortgage insurance

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