Tax

Have a tax question? Ask a tax Expert

Connect one-on-one with {0} who will answer your question

Related Tax Questions
I opened a mortgage in 2012, but didn't know enough about
I opened a mortgage in 2012, but didn't know enough about what I was doing and failed to include mortgage interest from HUD-1 and UFPMI from the same. IRS pub 530 says any PMI not allocated to the yea… read more
Barbara
Barbara
Enrolled Agent, Paralegal
6,656 satisfied customers
I paid 25,000 in earnest money in October 2014 new home purchase. My house is curre
I paid 25,000 in earnest money in October 2014 for a new home purchase. My house is currently under construction. My closing for my home loan will be March 30,2015. Can I declare $25,000 as tax deduct… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
3,323 satisfied customers
My reverse mortgage sent me a 1098 showing the amount I paid
My reverse mortgage sent me a 1098 showing the amount I paid insurance premium last year. Can I deduct this amount on my 2014 income tax? The amount is $19,000. Won't this cause an audit?… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,791 satisfied customers
I just purchased a home this past July 2014. I make just under
I just purchased a home this past July 2014. I make just under 120k and as the wording in mortgage premium insurance seems like I can "treat amounts you paid during 2014 mortgage insurance as home mor… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
18,937 satisfied customers
personal residence was purchased in December of 2012 and interest
personal residence was purchased in December of 2012 and interest on 1098 form from one mortgage company was only $900, but mortgage insurance premium ("MIP-YTD") was $6,569. That amount was set up as… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,931 satisfied customers
I refinanced my home this year and included in the closing
I refinanced my home this year and included in the closing costs were a year in advance for the mortgage insurance premiums - is this tax deductible along with the mortgage insurance payments that wer… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
18,937 satisfied customers
This is an individual income tax question. I have a mortgage
This is an individual income tax question. I have a mortgage with an escrow account. I refinanced the mortgage in February 2011 with the same lender. The lender sent my two Forms 1098: one for the old… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,931 satisfied customers
Can I put my mortgage interest on line 12 schedule A but I
Can I put my mortgage interest on line 12 schedule A but I am confuse wheather to put my mortgage premium on line 13. Please help… read more
USTaxAdvising
USTaxAdvising
Partner
Bachelor's Degree
1,099 satisfied customers
Purchased a home in 2009 and Line 902 of the hud statment shows
Purchased a home in 2009 and Line 902 of the hud statment shows borrower paying 3,072 for mortgage insurance premiums yet the 1098 only shows 800 dollars for the mortgage insurance premiums what is th… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
I refinanced my home in 05/2009. I prepaid to the lender private
I refinanced my home in 05/2009. I prepaid to the lender private mortgage insurance. Is this tax deductible? It is listed on my settlement sheet, but not listed on the 1098 from Bank of America. Thank… read more
JKCPA
JKCPA
Certified Public Accountant (CPA)
Bachelor's Degree
1,809 satisfied customers
I bought a home on May 29, 2009. This was an FHA loan. There
I bought a home on May 29, 2009. This was an FHA loan. There was upfront mortgage insurance payment that was financed into the loan. I got a 1098 form in the mail. The amount in box 4 equals the upfro… read more
RD
RD
Self Employed
Master's Degree
1,164 satisfied customers
Hi, We refinanced our FHA loan this year, and at closing
Hi, We refinanced our FHA loan this year, and at closing we were required to pay $3670.67 for - "Mortgage Insurance Premium for 0 months to HUD" on line 902 of our HUD-1. We were told it was a one tim… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
18,937 satisfied customers
Should I receive 1009-a for both 1st and 2nd mortgage from same lender
I had a foreclosure in Jan 08. I had a 1st & 2nd mtg with the same lender on the home. I received one 1099a for the 1st mtg only. I have contacted the mtg co 3x as to why I have not received a 1099a o… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
18,937 satisfied customers
Is the Up Front MIP to HUD , listed on my refinance Settlement Statem
I closed the loan in December of 2008, but did not have an new payment/statement until February of 2009. The to total amount of upfront money paid to HUD, was included as part of the closing/settlemen… read more
Dave Z
Dave Z
Self-Employed
Bachelor
418 satisfied customers
I purchased a home in 2008 and closed on 9/26/08. I used an
I purchased a home in 2008 and closed on 9/26/08. I used an FHA loan and was charged an upfront mortgage insurance premium of 1988.50 which is included on my HUD-1 statement (labeled "Upfront MIP Fina… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
I did a streamline refinance this year. I bought my house
I did a streamline refinance this year. I bought my house in 2007. On my loan settlement PMI is added to it. Can I deduct that amount on my taxes. I did get my 1098 from the loan provider but this is … read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
On line 13 you can deduct mortgage insurance premiums
On line 13 you can deduct mortgage insurance premiums for 2007. I used a private insurance company and the amount is not listed on box 4 of form 1098. May I still take this deduction when I itemize?… read more
Lou
Lou
High School or GED
272 satisfied customers
i pay my taxes through to my homeowners,taxes and insurance ...
i pay my taxes through to my homeowners,taxes and insurance is included in my morgage payment every month.I went to [email protected] Block and filed for my homeowners prebate,now the question is if I pay taxes thr… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,512 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

18,937 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x