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Is hazard insurance tax deductible?

Customer Question
My 1098 from my lender...

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
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Answered in 3 minutes by:
4/10/2007
Tax Professional: Wendy Reed, Enrolled Agent replied 10 years ago
Wendy Reed
Wendy Reed, Enrolled Agent
Category: Tax
Satisfied Customers: 3,346
Experience: 15+ years tax preparation and tax advice.
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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
Wendy Reed, Enrolled Agent
Category: Tax
Satisfied Customers: 3,346
Experience: 15+ years tax preparation and tax advice.
Verified
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Customer reply replied 10 years ago

Thank you.

Tax Professional: Wendy Reed, Enrolled Agent replied 10 years ago

Your welcome, Thanks for using JustAnswer.

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