Are the up-front mortgage insurance premiums on FHA loans tax deductible?

This up-front mortgage insurance premium (MIP) was rolled/financed into my loan.
And if they are tax deductible, do I deduct all of it on the tax year I closed on my home? Or do I have to spread out the deductions over the lifetime of the loan?
Also, please provide a reference with your answer. I've done plenty of online searches and there is an abundance of conflicting information.

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This entry was posted on Monday, May 25th, 2009 at 9:50 am and is filed under FHA Loans. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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One Response to “Are the up-front mortgage insurance premiums on FHA loans tax deductible?”

golferwhoworks says:

May 25, 2009 at 9:50 am

yes they are

Tags: abundance, insurance, lifetime, mip, mortgage insurance premium,

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