Category: Finding Deductions
How can I find out if I paid mortgage insurance or not?
In most cases, you will receive a Form 1098, Mortgage Interest Statement, that will report the amount of your qualified premiums in Box 4. If you did pay qualifying mortgage insurance premiums and the deductible amount is not included in Box 4 of your Form 1098, you would need to contact the mortgage insurance issuer to determine the amount of your deduction.
Examples of mortgage insurance issuers include:
- the Department of Veterans Affairs
- the Federal Housing Administration
- the Rural Housing Service
Mortgage insurance provided by the Department of Veterans Affairs and the Rural Housing Service is commonly known as a funding fee and guarantee fee respectively.