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    #1

    Mortgage Insurance

    Have client who has balance on original mortgage loan taken out before 1987. Was not eligible for mortgage insurance deduction.

    Client now has refinanced to pay old balance with additional funds to him. Mortgage insurance shows up on 1098.

    Is mortgage insurance deductible on refinance.
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    #2
    Mortgage insurance

    is deductible for aquisition debt. So if more money was borrowed than remained on the aquisition debt it will be partially deductible.

    That is for mortgage insurance contracts after 12-31-2006.

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