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Wendy Reed
Wendy Reed, Enrolled Agent
Category: Tax
Satisfied Customers: 3346
Experience:  15+ years tax preparation and tax advice.
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Is hazard insurance tax deductible?

Customer Question

My 1098 from my lender listed the amounts I paid in mortgage interestproperty tax, and hazard insurance. What am I supposed to do with the hazard insurance?

Submitted: 10 years ago.
Category: Tax
Expert:  Wendy Reed replied 10 years ago.

If this is your residence, and you do not have rental or business use of the home, the hazard insurance is not deductible.

If this is a rental property, the hazard insurance is deductible under insurance on Schedule E under "insurance".

Wendy Reed and other Tax Specialists are ready to help you
Customer: replied 10 years ago.

Thank you.

Expert:  Wendy Reed replied 10 years ago.

Your welcome, Thanks for using JustAnswer.