For a taxpayer with adjusted gross income of $56,000, private mortgage insurance (PMI) is deductible in 2015.

Question

​For a taxpayer with adjusted gross income of $56,000, private mortgage insurance (PMI) is deductible in 2015.

Quizplus · Accepted Answer

According to the IRS, private mortgage insurance (PMI) is deductible for taxpayers with adjusted gross income of less than $100,000. For taxpayers with adjusted gross income between $54,500 and $109,000, the deduction is phased out. Therefore, a taxpayer with adjusted gross income of $56,000 may potentially qualify for the PMI deduction in 2015.

​For a Taxpayer with Adjusted Gross Income of $56,000, Private

For a Taxpayer with Adjusted Gross Income of $56,000, Private