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Many home buyers are wondering if private mortgage insurance or PMI is still tax deductible in 2018. With all of the media publishing articles about the year-end GOP tax reform bill, it is imperative that you get the facts on tax deductions for PMI before committing to a home loan in the new year.
Deductions work by reducing the amount of assessed value a taxpayer pays on a. the title is changed or the home is refinanced (mortgage deduction only).
the interest on a mortgage for a principal private residence is not tax deductible. However, all capital gains upon selling the home are tax exempt. But there is a way Canadians can effectively deduct.
Learn about the many tax deductions available to rental property owners.. Common examples of interest that landlords can deduct include mortgage interest.